Please find the enclosed letter of resignation received from Mrs. Ragini Vakil from her position of ''Chief Financial Officer''
ELCIDIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
EL CID Investments announced that Mrs. Ragini Vakil resigned as Chief Financial Officer (CFO) effective the close of business on June 18, 2025, citing other commitments and pre-occupations with no other material reasons. Mrs. Vakil, who is the spouse of Chairman & Director Mr. Varun Vakil and sister-in-law of Director Ms. Amrita Vakil, will continue on the board as an Additional Non-Executive Director from June 19, 2025. The Board has appointed Ms. Shraddha Manjrekar as the new CFO effective June 19, 2025, based on the recommendation of the Nomination and Remuneration Committee. Ms. Manjrekar 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. The transition is orderly, with no disclosed relationship between the incoming CFO and any directors.
This is a routine management transition with minimal impact on shareholders. The outgoing CFO remains on the board as a non-executive director, and the incoming CFO has strong relevant experience. Investors should see this as normal board reshuffling rather than a red flag.