Pune: Finolex Industries Limited announced that its Board of Directors has approved the appointment of Mr. Saurabh Dhanorkar as Managing Director for a period of two years with effect from 21st November 2024.
Mr. Dhanorkar has been associated with the Company since 1983 in various roles and was Managing Director until 2012 when he retired. He is a qualified Chartered Accountant and has contributed significantly to the expansion of the Company from a Rs. 2 crore pipes manufacturing company to a multi-location petrochemicals and plastics processing giant. He retired as Managing Director in 2016 and has been associated with the Company as a Non-Executive Director for the past eight years.
Executive Chairman, Mr. Prakash Chhabria, emphasized the importance of this leadership change, praising Mr. Dhanorkar’s vast experience in accounting, finance, commercial, strategy, marketing, and general management. He expressed confidence in Mr. Dhanorkar’s ability to lead Finolex into its next phase of growth and profitability, citing his client-centric approach, growth mindset, and commitment to the company’s values and looks forward to setting new benchmarks under his leadership.
The Board at their meeting held on 24th October 2024, considered the recommendation of the Nomination & Remuneration Committee, and approved the appointment of Mr. Saurabh Dhanorkar as the Managing Director w.e.f. 21st November 2024, necessary disclosures of which have already been filed with the Stock Exchanges. Mr. Ajit Venkataraman will be stepping down as Managing Director at the close of business hours on 20th November 2024.