Announcement under Regulation 30 of SEBI LODR Regulation, 2015
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MPF Systems Ltd's Board, at its meeting on January 13, 2026, approved the appointment of Mr. Sharang Amar Sharma (DIN: 11428567) as the new Managing Director, effective January 13, 2026, subject to shareholder approval at the next general meeting. Mr. Sharma is a postgraduate in Marketing with experience in business development and sales, and has no directorship in other listed entities. Separately, the existing Managing Director, Mr. Piyush Mansukhbhai Savalia (DIN: 06464445), has resigned citing pre-occupation, with his exit effective January 15, 2026. Mr. Savalia confirmed there are no other material reasons for his departure. There is a brief two-day overlap between the outgoing and incoming Managing Directors.
This is a routine leadership transition with no negative signals — the outgoing MD's resignation is due to personal pre-occupation rather than any governance or performance issue. The new MD's sales and marketing background may signal a sharper commercial focus, but his appointment still needs shareholder approval. For shareholders, the immediate impact is limited; any real change in strategy will become clearer after the new MD settles in.