Please find the enclosed letter for appointment of Ms. Shraddha Manjrekar as the Chief Financial Officer of the Company
ELCIDIN · price
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Elcid Investments' board met on June 18, 2025 and approved three changes effective June 19, 2025. Mrs. Ragini Vakil resigned as Chief Financial Officer citing other commitments, though she will continue on the board with her designation changed from Additional Executive Director to Additional Non-Executive Director. She is the spouse of Chairman Mr. Varun Vakil and sister-in-law of Director Ms. Amrita Vakil, making her part of the promoter family. Ms. Shraddha Manjrekar was appointed as the new CFO and Key Managerial Personnel. She brings over 20 years of experience in financial management, economic research, and strategic advisory, having spent around 19 years at Frost & Sullivan as an Industry Analyst. No relationship with existing directors was disclosed for the incoming CFO, indicating an external professional appointment.
Routine top-level management reshuffle with no change in promoter family control of the board. Replacing a family-member CFO with an external finance professional is generally viewed as a governance positive, but is unlikely to move the stock given Elcid's small size and investment-holding business model.