The Board received the Resignation letter from Mrs. Ragini Vakil on May 23, 2025 from the position of Chief Executive Officer. Further her resignation shall come into effect from the closure ....
ELCIDIN · price
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Mrs. Ragini Vakil stepped down as Chief Executive Officer of Elcid Investments, effective from the close of business on May 23, 2025, citing personal and professional reasons. She will, however, continue in her role as Chief Financial Officer (CFO) and has additionally been appointed as an Executive Director on the board. Ms. Amrita Vakil, who was earlier a Non-Executive Director and is the sister of Chairman Mr. Varun Vakil, has been elevated to Whole-Time Director for a five-year term starting May 24, 2025. Separately, Ms. Margarette Shwetha Thomas, a Harvard-educated professional with over 18 years of experience in banking and financial services, has been appointed as an Additional Non-Executive Independent Director for a five-year term.
This is an internal board reshuffle with no change in promoter control. The Vakil family continues to lead the company, which should provide continuity for shareholders. Investors should note that the CEO position has been left vacant for now, with day-to-day leadership responsibilities likely resting on the Whole-Time Director and CFO.