Indian Card Clothing Company Limited has informed the Exchange regarding Resignation of Dr. Sriram Swaminathan as Chief Financial Officer of the company w.e.f. April 29, 2025.
INDIANCARD · price
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The Indian Card Clothing Company has announced the resignation of Dr. Sriram Swaminathan from the position of Chief Financial Officer (whole-time key managerial personnel), effective from the close of working hours on April 29, 2025. Dr. Swaminathan cited personal reasons and a desire to explore new opportunities for his departure. The Board has appointed Mr. Sanjeevkumar Karkamkar, the existing Executive Director of the company, as the new CFO effective April 30, 2025. Mr. Karkamkar is a Commerce graduate with over 45 years of experience in Finance, Company Law, Taxation, and Administration, and has been on the company's board since August 14, 2024.
The CFO transition appears orderly with an internal promotion, as the incoming CFO is already familiar with the company as its Executive Director. This is likely to have minimal disruption to operations, though investors may want to monitor for any strategic or financial reporting changes under the new CFO.