The Board of Directors in its meeting held today had approved the appointment of Mr. Varun P Mathews as the Chief Financial Officer of the Company.
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Richfield Financial Services Ltd's Board of Directors has approved the appointment of Mr. Varun P Mathews as Chief Financial Officer (CFO) effective May 21, 2026. The appointment was made at a board meeting that lasted 30 minutes (4:15 PM to 4:45 PM). Mr. Mathews holds a BBA degree from Manonmaniam Sundaranar University and brings over 13 years of experience in Finance, Accounts, Taxation, and Sales within the Non-Banking Sector. The appointment complies with Section 203 of the Companies Act, 2013. The company has clarified that Mr. Mathews is not related to any Director on the board.
The appointment brings a new CFO with extensive non-banking sector experience to the company, which could strengthen financial oversight. As this is a routine KMP appointment rather than a replacement due to departure, it is unlikely to have significant short-term impact on the stock.