Syncom Formulations (India) Limited has informed the Exchange about change in Management
SYNCOMF · price
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Syncom Formulations announced a major management reshuffle effective August 8-9, 2025. Kedarmal Shankarlal Bankda stepped down as Chairman but continues as Whole-time Director, while his son Ankit Kedarmal Bankda resigned as CFO and was appointed as the new Chairman and Whole-time Director. Whole-time Director Rinki Ankit Banka also resigned from the board. Rahul Vijay Bankda, son of Managing Director Vijay Shankarlal Bankda, has been appointed as the new CFO. Both newly appointed executives are members of the promoter group, indicating a family-led succession plan at the top.
This is essentially a promoter family succession with the next generation taking charge of both the Chairman and CFO roles. For shareholders, this means greater promoter control and continuity, but also raises concentration of family influence at the top. The new Chairman's appointment is subject to shareholder approval at the upcoming AGM.