Resignation of CFO
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String Metaverse Ltd announced a major leadership reshuffle at its board meeting on 8 September 2025. The CEO Mr. Sai Santosh Althuru and CFO Mr. Meenavalli Krishna Mohan both stepped down for personal and professional reasons, though both will continue as Executive Directors. Independent Director Mr. Hemant Prabhudas Vastani also resigned from the board. To fill the gaps, the company appointed Mr. Raghavendra Hunasgi (ex-Infosys, co-founder of Zeebu) as the new CEO and Mr. Amar Kumar as a new Independent Director for a five-year term. Notably, former Independent Director Mr. Vastani has been appointed as the new CFO effective 1 October 2025. The shareholder resolution to appoint Mr. Vastani as Independent Director at the upcoming 26 September AGM has been withdrawn.
Sharp one-day turnover at the top — both KMPs (CEO and CFO) resigned simultaneously, which may concern investors, but the quick appointment of high-profile replacements (a globally experienced CEO and a veteran chartered accountant as CFO) suggests the company is proactively restructuring its leadership. Existing executives retain board seats, so continuity is partially preserved.