Shanthi Gears Appoints Interim CFO Following Change in Financial Leadership
Shanthi Gears Limited announced the appointment of Mr. Sukanta Kumar Panigrahi as the Interim Chief Financial Officer (CFO) following a change in the company's financial leadership. The decision was made by the Board of Directors during a meeting held on July 13, 2026.The appointment comes after the CFO, Mr. Sudhir R, communicated his inability to join the Company due to personal reasons. As part of the board decisions, Mr. Sukanta Kumar Panigrahi was appointed with immediate effect to hold office until a regular CFO is identified and takes charge.
Profile of Interim Chief Financial Officer
The appointment includes appointing a qualified Chartered Accountant and Company Secretary. Mr. Panigrahi possesses 18 years of experience across various financial domains, including Treasury, Fund Raising, Budgeting, Cost Reduction Initiatives, and Business Process Improvement. His professional background includes an association with Tube Investments of India Limited (the Holding Company), and he previously held positions at River Mobility Private Limited, Ford Motors Private Limited, and BNY Mellon.Details regarding the appointment are summarized below:
| Disclosure Requirement | Details |
|---|---|
| Reason for change | Appointment of Mr. Sukanta Kumar Panigrahi as Interim Chief Financial Officer |
| Date/Term of appointment | Immediate effect / Term Not Applicable |
| Brief profile | Qualified Chartered Accountant and Company Secretary with 18 years experience in Finance, Treasury, Fund Raising, Budgeting, Cost Reduction Initiatives & Business Process Improvement. He is currently associated with Tube Investments of India Limited (Holding Company) and earlier was associated with River Mobility Private Limited, Ford Motors Private Limited and BNY Mellon. |
Authorization of Key Managerial Persons (KMPs)
Shanthi Gears Ltd also designated several individuals for the purpose of determining the materiality of events or information and making disclosures to the Stock Exchange(s).The authorized Key Managerial Persons (KMPs) are:
| S.No | Name of the KMP | Designation |
|---|---|---|
| 1 | Mr. MKarunakaran | Whole time Director & CEO |
| 2 | Mr. Walter Vasanth P J | Company Secretary |
SHANTIGEAR Stock Price Movement
Shares of Shanthi Gears Limited are advancing as of 11:25 AM, climbing to ₹444.90 after rising by ₹2.30 (0.52%). So far in trading, the stock has seen a volume of 1,221 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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