Please find the attached outcome of Board meeting for change in CFO
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.8 pts more than Nifty Microcap 250 and 3.3 pts more than its Gems, Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of Retaggio Industries met on December 11, 2025 and approved two key changes at the top. First, Mr. Noratan Singh Rao resigned from his combined role of Director and Chief Financial Officer, effective immediately. Second, the board appointed Mr. Savinay Lodha as the new CFO with immediate effect. Notably, Mr. Savinay Lodha is already the company's Managing Director and is related to Mrs. Nidhi Lodha, a Non-Executive Director on the board. The new CFO holds a B.Com from Mumbai University and has prior experience in the manufacturing and trading of ornaments and jewellery. No reason for the outgoing CFO's resignation was disclosed.
Investors should note that the same person (Managing Director Savinay Lodha) will now hold both MD and CFO positions, which concentrates decision-making authority and could raise corporate governance concerns. The departure of a Director + CFO without disclosed reasons may warrant monitoring for any follow-up disclosures about the circumstances of the exit.