Intimation of Change in Management
HITECHCORP · price
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Hitech Corporation announced several leadership changes effective May 2026. The Board appointed Mrs. Mugdha Khare as Chief Financial Officer (CFO) and Key Managerial Personnel, bringing 16+ years of finance experience from organizations including BSR & Co. (KPMG affiliate), NOCIL Limited, and most recently Astec Life Sciences. Mr. Mehli Golvala, a former Senior Tax Partner at Kalyaniwalla & Mistry LLP with 40+ years in taxation, was appointed as Additional Director in the Non-Executive Independent category for 5 years, subject to shareholder approval. Mr. Ravi G. Balasubramanian (VP – Manufacturing) was elevated to President and Senior Management Personnel. Mr. Girish Haganoor, previously Head of Engineering at Tata AutoComp Systems, was appointed as President of Thriarr Polymers Private Limited (wholly-owned subsidiary). On the exit side, Mr. Jasraj Singh resigned as Chief Operating Officer citing health grounds, effective May 15, 2026, and Mr. Bomi Chinoy's term as Non-Executive Independent Director concludes on May 22, 2026.
The appointment of a qualified CFO with large-scale treasury experience (handled INR 5,500 million borrowing book at NOCIL) and an experienced tax professional as Independent Director strengthens the finance and governance function. However, the COO's resignation on health grounds may raise short-term operational concerns, and investors should monitor the transition period.