Laxmi Organic Industries Limited has Submitted the Disclosure pursuant to Resignation of Chief Financial Officer (CFO) - Mr. Mahadeo Karnik with effect from April 13, 2026, and Appointment of Mr. Harshvardhan Goenka as Interim Chief Financial Officer (CFO) with effect from April 14, 2026.
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Laxmi Organic Industries announced the resignation of Chief Financial Officer Mr. Mahadeo Karnik, effective close of business on April 13, 2026. The Board has appointed Mr. Harshvardhan Goenka, currently an Executive Director, as Interim CFO starting April 14, 2026 until a new permanent CFO takes over. The company has already identified a successor expected to join on June 15, 2026, subject to approval by the Nomination and Remuneration Committee, Audit Committee, and Board. This appears to be a planned transition, with Mr. Karnik citing personal reasons for his move. Mr. Goenka holds a science degree from Babson College, Boston, and has over 13 years of experience in the chemicals industry.
The CFO change introduces short-term management transition risk, but the seamless handover from the outgoing to interim CFO and the already-identified permanent successor should minimize disruption. Markets may view the internal appointment of an Executive Director as interim CFO positively, indicating continuity.