Change in Management Structure
Price
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On the reaction day the stock moved 3.2 pts less than Nifty Microcap 250 and 2.0 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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On 15th July 2025, Mid East Portfolio Management Ltd announced a major reshuffle at the board and management level. Ms. Poonam Kishor Shah, daughter of promoter directors Kishor Shah and Jyoti Shah, was appointed as Executive Director and Chief Financial Officer for a three-year term. She holds an MBA in Finance from Baruch College (CUNY), has cleared the CFA Level III exam, and brings 16+ years of experience in financial services and equity broking. Two new Additional Independent Directors — Ms. Rakhi Upadhyay (NPA management and client servicing) and Mr. Sandipbhai Patel (practicing Chartered Accountant) — were also appointed. At the same time, Mrs. Jyoti K. Shah stepped down from her directorship and CFO role citing age, and Mr. Sharad Kulkarni resigned from the board citing age and health reasons. All appointments are subject to shareholder approval.
This is a clear promoter family succession move, with the founder's daughter taking over both executive and financial leadership roles, supported by two new independent directors with finance and audit expertise. For shareholders, this signals a planned generational handover rather than a sudden disruption, though concentration of family control at the top is reinforced.