Aarti Industries said that its board has approved to appointment of Suyog Kalyanji Kotecha as chief executive officer (CEO) with effect from June 17, 2024 in place of Rajendra V Gogri.
Rajendra V Gogri relinquishes his role as CEO of the company effective from the date of joining of New CEO, however will continue to be the chairman and managing director.Suyog Kalyani Kotecha pursued B. Tech (Chemical) from UDCT, MS (Chemical) from Netherlands and MBA from ISB.
Kotecha's expertise is well recognized in the chemical industry, having held key leadership positions across various stages of the value chain. Most recently, he led Strategy and New Business initiatives for the Petrochemicals business at Reliance Industries. Before that, he served as a Partner at McKinsey & Company, leading the Chemicals Practice and advising companies on performance transformation and strategic growth.
Rajendra V. Gogri, chairman and managing director, said, The board of directors believes Suyogs extensive experience in the speciality chemicals sector, coupled with his focus on customer needs and sustainability, makes him the perfect leader for AIL's next leap. He comes with a proven track record and a wealth of experience in strategy, innovation, and business transformation.
His innate understanding of the chemicals industry, coupled with his extensive experience from the factory floor to the boardroom, make him the ideal leader to take AIL into its next chapter of growth. His global connects in the chemical industry including AILs key customers both in India and globally will be an additional advantage. We wish Suyog all the best in his new role and committed to ensure his success."
Aarti Industries is engaged in manufacturing and dealing in speciality chemicals and pharmaceuticals.
The companys consolidated net profit declined 11.4% to Rs 132 crore in Q4 FY24 as compared with Rs 149 crore in Q4 FY23. Revenue from operations increased 7.07% YoY to Rs 1773 crore in Q4 FY24.
The scrip declined 2.78% to end at Rs 611.5 on Thursday, 30 May 2024.
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