Federal-Mogul Goetze (India) Limited. has informed the Exchange regarding Appointment of Mr Rishi Verma as Non- Executive Director of the company w.e.f. August 11, 2025.
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Federal-Mogul Goetze India announced a major leadership overhaul effective August 11, 2025. Mr. T. Kannan resigned as Managing Director and Mr. Manish Chadha resigned as CFO and Finance Director. In their place, Mr. Amit Mittal was appointed as both Managing Director and Chief Financial Officer for a 3-year term, while Mr. Gangasagar Neminath Hemade was appointed as Chief Executive Officer in a separate role (not a board member). Additionally, three new Non-Executive Non-Independent Directors were inducted — Mr. Jason Wesley Johnson, Mr. Vishal Khairari, and Mr. Rishi Verma. Notably, all five new appointees are from parent company Tenneco, indicating the parent group is consolidating its leadership footprint in the Indian arm. The company confirmed board composition remains compliant with SEBI regulations.
Shareholders should note the near-complete senior management turnover, with parent Tenneco installing its own executives across all key roles. The unusual combination of MD and CFO duties in one person may attract governance scrutiny, while the rapid succession could create short-term execution risk before the new team settles in.