Solex Energy Limited has informed the Exchange regarding Outcome of Board Meeting held on August 07, 2025.
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Solex Energy's Board of Directors met on August 7, 2025 and approved three key changes. First, Mr. Kamlesh Pravin Yagnik, an IIT Bombay MTech graduate with 30+ years of experience in energy and climate change, was re-appointed as Independent Director for a second 5-year term from March 3, 2026 to March 2, 2031. Second, Mrs. Kiran Ritesh Shah resigned as Chief Financial Officer effective August 4, 2025, but will continue as Executive Director on the Board with revised remuneration. Third, Mr. Hemal Kachiwala, a Chartered Accountant with 14+ years of experience in finance, accounting, taxation, and treasury, was appointed as the new CFO and Key Managerial Personnel with effect from August 7, 2025. The changes were made on the recommendation of the Nomination and Remuneration Committee.
The transition appears orderly: the outgoing CFO retains an Executive Director seat, and the incoming CFO brings strong finance, risk, and compliance expertise. Shareholders should see continuity in financial oversight, though a new CFO transition always carries short-term adjustment risk.