Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
PAUSHAKLTD · price
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Awaiting price reaction for this filing.
Paushak Limited has informed the stock exchange that Mr. Abhijit Joshi, Whole-time Director & CEO, has resigned effective 2nd April 2025 after close of business hours, due to superannuation (retirement). The Board recorded its appreciation for his contributions. In his place, the Board has appointed Mr. Chintan Gosaliya, the company's current Chief Operating Officer, as an Additional Director and Whole-time Director (Key Managerial Personnel) for a 5-year term, subject to shareholder approval via special resolution. Mr. Gosaliya brings over two decades of chemicals industry experience, having previously worked at Jubilant Ingrevia and Tata Chemicals. He is not related to any existing director or KMP, and the appointment is internally sourced rather than an external hire.
This is a planned leadership transition triggered by the CEO's retirement, with a smooth internal succession from the COO role — generally a neutral-to-slightly-positive signal for shareholders as it ensures continuity. No governance red flags were disclosed. Investors should watch for the shareholder approval process and any subsequent announcement of a new CEO, as the press release does not explicitly state that Mr. Gosaliya has been designated as CEO.