Lux Industries announced that its CFO Ajay Kumar Patodia has resigned from the role citing personal reasons. He will be succeeded by Saurabh Kumar Bhudolia, effective from 13th February, 2021.
“In terms of captioned subject matter and referred Regulation, it is hereby informed that Mr. Ajay Kumar Patodia has resigned due to his personal reasons and is going to be relieved from his responsibilities as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company with effect from closing on business hours on 12 February, 2021,” the exchange filing said.
“It is hereby further informed that, on the basis of the recommendations of Nomination and Remuneration Committee and Audit Committee, the Board of Directors of the Company at its Meeting held today i.e 12 February, 2021 has appointed Mr. Saurabh Kumar Bhudolia as Chief Financial Officer and Key Managerial Personnel of the Company with effect from 13 February, 2021 as per the provisions of Section 203 of the Companies Act, 2013 read with its applicable Rules and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” the company added.
Saurabh Kumar Bhudolia is a Member of Institute of Chartered Accountants of India, and has extensive experience of more than 15 years in corporate finance, accounting, business partnering, investor relations, financial planning & analysis, fundraising, strategic planning, audit, and risk management.
Prior to joining Lux Industries Limited, he was associated with Future Lifestyle Fashions Limited, (Mumbai) as Chief Financial Officer where he has been instrumental in the growth path for business thru strong business and financial model well supported by operational excellency. His previous experience includes critical roles with Mondelez International (Mumbai) & Sula Vineyards Pvt. Ltd. (Mumbai) and in his early career with Tata steel Ltd. (Jamshedpur, Kolkata, Mumbai).
