RESIGNATION OF THE CHIEF FINANCIAL OFFICER OF THE COMPANY
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Pet Plastics Ltd announced that Mr. Prajesh Pravinbhai Chaudhary has resigned from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from the close of business hours on 12 August 2025, citing other professional commitments. The Board has simultaneously appointed Mr. Santosh Shahadeo Unmegh as the new CFO and KMP, effective from the start of business hours on 13 August 2025, based on the recommendation of the Nomination and Remuneration Committee and Audit Committee. The incoming CFO is a B.Com graduate with over 15 years of experience in accounts, finance, taxation, statutory compliance, and financial reporting. The transition was swift, with the new CFO taking charge the very next business day after the previous one's exit.
The change appears to be a smooth, planned succession with no disruption in financial leadership — the new CFO has been appointed immediately to maintain continuity. Shareholders should note that the outgoing CFO left for personal/professional reasons and not due to any governance issues, and the incoming appointee brings substantial finance experience.