Board has approved appointment of Mr. Baijoo Raval as Chief Financial Officer of the Company.
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Relic Technologies Ltd announced that its Board of Directors, at a meeting held on May 10, 2025, approved the appointment of Mr. Baijoo Madhusudan Raval as the Chief Financial Officer of the company, effective the same day. Mr. Raval is already serving as a Whole Time Director of the company and brings over 30 years of experience in capital markets and insurance. The appointment was made based on the recommendation of the Nomination and Remuneration Committee. Mr. Raval is not related to any of the other directors on the board.
This is a routine internal restructuring where an existing director takes on the additional CFO role. Shareholders should note the consolidation of finance leadership with a long-tenured insider, which may bring continuity but could also raise questions about board independence in financial oversight.