Laxmi Organic Industries Announces Change in CFO Role
Laxmi Organic Industries Ltd reported significant changes in its key management personnel following a board meeting held on April 10, 2026. The board noted the resignation of Mr. Mahadeo Karnik from the position of Chief Financial Officer and Key Managerial Personnel.Mr. Mahadeo Karnik’s tenure with the company concludes effective from the close of business hours on April 13, 2026. The board formally expressed its appreciation for the contributions made by Mr. Karnik during his time with the company.
Interim CFO Appointment Confirmed
To ensure continuity, the Board of Directors approved the appointment of Mr. Harshvardhan Goenka, Executive Director, as the Interim Chief Financial Officer. This appointment is effective from the commencement of business hours on April 14, 2026, and will remain in place until a new Chief Financial Officer assumes the role.Regarding the permanent replacement, management has identified a successor for the CFO position, who is tentatively expected to join the company on June 15, 2026$. The proposal for this new appointment will be presented at upcoming meetings of the Nomination and Remuneration Committee, the Audit Committee, and the Board of Directors.
Details of Key Personnel Changes
The details concerning the changes in key management roles are summarized below, detailing the resignation and the interim appointment.| Particulars | Mr. Mahadeo Karnik | Mr. Harshvardhan Goenka |
|---|---|---|
| Reason for change | Resignation as Chief Financial Officer and a Key Managerial Personnel of the Company. | Appointment as Interim Chief Financial Officer of the Company with effect from the commencement of business hours on April 14, 2026, until the assumption of office by the new Chief Financial Officer |
| Date of cessation/appointment | Effective close of business hours of April 13, 2026 | Effective start of the business hours of April 14, 2026 |
| Brief profile | NA | Mr. Harshvardhan Goenka holds a Bachelor's degree in science from Babson College, Boston, USA. With over 13 years of experience in the chemicals industry, he is responsible for driving the growth agenda and establishing new ventures at Laxmi Organic. He is an active member of the Entrepreneurs Organisation, Mumbai, and the Babson Alumni Club. Since his appointment to the Board in November 2020, Mr. Goenka has played a key role in shaping our Company's strategic direction. |
LXCHEM Stock Price Movement
Today, Laxmi Organic Industries Limited shares climbed to settle at ₹126.19, marking a 3.04% gain for the day. The stock finished with solid buying interest, trading on a volume of 660,070 shares.Source:
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