A week after admitting its accounts appear to have been "falsified", Ricoh India today said its Chairman and Director Tetsuya Takano has resigned from the company.
The company has appointed Ian Peter Winham as its Director/Chairman with immediate effect.
"Mr Tetsuya Takano has resigned as Director/Chairman of the company with effect from July 25, 2016. The Board of Directors of the company has accepted his resignation with immediate effect," Ricoh India said in a BSE filing.
Winham joined the Ricoh Group in Europe, Middle East and Africa (EMEA) in 2002 as CFO and was appointed Executive Vice President, CIO and CFO of Ricoh Europe in 2007.
In 2014, he took on a global role as head of Global Capital Management. In April 2016, he was appointed Corporate Vice President of Ricoh Company, Ltd.
Winham has worked extensively in India over the last six years, the company said.
Last week, Ricoh India said its accounts appear to be have been "falsified" and estimated to incur a loss of Rs 1,123 crore for the fiscal ended March 31, 2016.
It had said the disclosure follows an internal investigation it had been carrying out to ascertain its financial position and probable roles of few officials of the company.
In April, the company's India's MD and CEO Manoj Kumar had resigned from the board after being asked to go on leave amid an audit in the company by a committee.
However, Ricoh Company Ltd, a promoter entity of the Indian subsidiary of Japanese imaging and electronics major, has proposed to recapitalise the company for the loss.
The disclosure by the Indian unit also prompted the promoter to approach National Company Law Tribunal (NCLT) against the BSE-listed firm and its certain officials suspected to have indulged in "mismanagement".
In its petition, the promoter sought to restrain the statutory authorities from taking any coercing measures against Ricoh India Ltd and restore its share trading, which has been suspended for penal reasons even as a probe is already on by various agencies and regulators including Sebi into its affairs.
