Solex Energy Limited has informed the Exchange regarding Resignation of Mrs. Kiran Ritesh Shah as Chief Financial Officer of the company and continuation as Executive Director w.e.f. August 04, 2025.
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Solex Energy's board, at its August 7, 2025 meeting, accepted the resignation of Mrs. Kiran Ritesh Shah as Chief Financial Officer effective August 4, 2025, though she will continue on the board as Executive Director with revised remuneration. To fill the finance role, the company appointed Mr. Hemal Kachiwala, a Chartered Accountant with over 14 years of experience in finance, taxation, treasury, and compliance, as the new CFO and Key Managerial Personnel effective August 7, 2025. Separately, the board approved the re-appointment of Mr. Kamlesh Pravin Yagnik as Independent Director for a second five-year term from March 3, 2026 to March 2, 2031, based on the recommendation of the Nomination and Remuneration Committee. The outgoing CFO, Mrs. Shah, has 25 years of experience in accounting and financial management and will now serve solely in her executive director capacity.
The transition appears orderly with an immediate replacement, so there is no finance leadership vacuum; shareholders may view the retention of Mrs. Shah on the board as continuity, while the new CFO's strong compliance and treasury background could strengthen financial controls. The independent director re-appointment signals board stability heading into the next fiscal year.