Intimation regarding resignation of Mr. Abhishek Agarwal as CFO of the Company
GRWRHITECH · price
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On the reaction day the stock moved 1.4 pts more than Nifty Microcap 250 and 1.1 pts more than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mr. Abhishek Agarwal has tendered his resignation as Chief Financial Officer of Garware Hi-Tech Films Limited effective May 15, 2026. He cited pursuit of career opportunities outside the Company as the reason for leaving. As CFO, he was also a Key Managerial Personnel (KMP) under Section 203 of the Companies Act, 2013, and a member of the Risk Management Committee—both of which he will cease to hold. The company has confirmed no other material reason for the resignation and stated it will notify stock exchanges once a new CFO is appointed.
The departure of a CFO mid-tenure typically raises short-term concerns about financial oversight continuity. However, since the company has committed to appointing a successor and no governance issues were flagged, the impact on the stock may be limited to temporary uncertainty until the new appointment is announced.