Change in Senior Management Personnel of the Company
Awaiting price reaction for this filing.
Finolex Industries (FINPIPE) has announced three changes to its senior management effective April 1, 2025. Mr. Sumanto Bhandari has been appointed as President – Purchase, bringing 24 years of global procurement experience from companies like LyondellBasell, Glenmark Pharmaceuticals, GSK Consumer Healthcare, IFFCO Group, and Kansai Nerolac Paints. Mr. Swad Deshpande has been reassigned from President – Purchase to President – Supply Chain Management; he has over 30 years of experience across Tata Motors, Samsung India, Philips, and Greaves Electric Mobility. Separately, Mr. Ashutosh Kulkarni, Head – Supply Chain Management, has resigned for personal reasons, with his last working day set as May 26, 2025.
The leadership shuffle signals a planned reorganization of the company's procurement and supply chain function ahead of Mr. Kulkarni's exit in late May. While bringing in an experienced external hire can strengthen procurement, shareholders may want to watch for any disruption during the transition period.