Resignation of CEO

Ceo ResignedCfo ResignedCeo Appointed ExternalMultiple Ind Directors ResignedKmp ResignedManagement Changes View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-2.7% vs market

IT Enabled Services peers, median of 70sector-0.0%-2.4% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 2.4 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

On September 8, 2025, the board of String Metaverse Limited accepted the resignations of CEO Mr. Sai Santosh Althuru and CFO Mr. Meenavalli Krishna Mohan, both citing personal and professional reasons; both will continue serving as Executive Directors on the board. Independent Director Mr. Hemant Prabhudas Vastani also stepped down from the board effective September 7, 2025. To fill these gaps, the company appointed Mr. Raghavendra Hunasgi (co-founder of Web3 neobank Zeebu) as the new CEO effective immediately, and Mr. Hemant Vastani was named as the new CFO effective October 1, 2025. Additionally, Mr. Amar Kumar, a pharmaceutical and international trade veteran, was appointed as an additional Independent Director for a five-year term.

Likely market impact

Back-to-back resignations of the CEO and CFO in a single board meeting may briefly raise governance concerns, but the company has moved quickly to install experienced replacements, including a high-profile Web3 marketing leader as CEO. Shareholders should watch for any further disclosures on the reasons behind the sudden leadership churn.