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PAUSHAKLTD · price
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Paushak Ltd informed the exchange that Mr. Abhijit Joshi, Whole-time Director & CEO, has resigned from the company effective 2nd April 2025 after superannuation (retirement). On the same day, the board appointed Mr. Chintan Gosaliya, the company's current Chief Operating Officer, as an Additional Director and Whole-time Director for a 5-year term, subject to shareholder approval via special resolution. Mr. Gosaliya brings over 20 years of chemicals industry experience, having previously served as Senior VP at Jubilant Ingrevia Limited (about 8 years) and held various operations and business development roles at Tata Chemicals Limited (about 15 years) before joining Paushak as COO in November 2023. The outgoing CEO confirmed there are no other material reasons for his resignation.
This is a planned leadership transition with continuity, as the new Whole-time Director is an internal promotion of the existing COO rather than an outside hire. The outgoing CEO retired on superannuation rather than leaving abruptly, and shareholder approval will formalize the appointment. Minor positive for stability, but investors may want clarity on whether the new WTD will also take on the CEO role.