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The Baseline
23 Oct 2019
When Senior Executives go, they rarely say why

by Ritmbarah Arora

One trend that tends to pick up towards the end of a quarter, are senior executive resignations. This happens typically when there are internal disagreements about company performance, or when senior management don't like how the numbers are looking, and decide to exit. And sometimes, it is just time for a change.

Executives at high levels - Chief Executive Officer/Chairman, Chief Financial Officer and Chief Operating Officer - usually resign citing 'personal reasons' rather than airing dirty laundry, and since these resignation letters must be disclosed in stock exchange filings, we can take a look at senior management who put in their papers in just the last month. (You can search for any terms inside filings using Discover).

Company Name
 

Executive Resigning

Share Price Change Since Resignation
Quick Heal Technologies   COO 5.28%
Chemcrux Enterprises CFO 5.1%
Dollar Industries CFO -3.05%
Expleo Solutions Chair & Director -0.31%
Cox & Kings CFO -18%

 

  • Mr. Vijay Mhaskar, COO of Quick Heal Technologies: Headquartered in Pune, Maharashtra, Quick Heal Technologies Ltd is an IT security solutions company. The company develops security software for consumers, servers, cloud computing environments and small and medium enterprises and sells products directly to customers or through its partner channel. Quick Heal develops its own security suite, Quick Heal Total Security which uses the BitDefender scanning engine. Mr. Vijay Mhaskar, the Chief Operational Officer of the company, resigned from his position on account of personal reasons, effective from October 11, 2019. 
  • Mr. Premchand V. Tiwari, CFO of Chemcrux Enterprises: Based out of Ankleshwar, Gujarat, Chemcrux Enterprises is a manufacture of intermediates for bulk drugs, dyes and pigments. The esteemed clientele in India of the company include many multinationals, reputed pharmaceutical organization and regular exports to many countries. Mr. Premchand, the Chief Financial Officer of the company resigned from his position due to personal reasons effective October 12, 2019. The company has appointed Mr. Sushilkumar B. Tripathi as the new CFO, effective from October 12, 2019.
  • Mr. Lalit Chand Sharma, CFO of Dollar Industries: Headquartered in Kolkata, West Bengal, Dollar Industries Ltd is into hosiery, apparel and textiles business. The company has 15% market share along with exports of their production across the globe which emerged as the highest selling Indian innerwear brand in the Middle East and Gulf countries. Mr. Lalit Chand Sharma, Chief Financial Officer of the company, resigned from his position on October 14, 2019 on account of personal reasons, effective from November 1, 2019.
  • Mr. Rene Gawron, Chairman & Director of Expleo Solutions: Based out of Chennai, Tamil Nadu, Expleo Solutions Ltd is a public incorporated company on June 8, 1998. The company is active in a variety of industries including banking & financial services, automotive & manufacturing, insurance, retail & logistics, telecommunications, energy & utilities and public services. Mr. Rene Gawron, Chairman & Director of Expleo Solutions resigned from his position on October 15, 2019 due to personal reasons, effective immediately.
  • Mr. Anil Khandelwal, CFO of Cox & Kings: Headquartered in Mumbai, Maharashtra, Cox & Kings is one of the longest established travel companies. The company has historically been an army agent, a travel agent, a printer and publisher which also worked as a news agent, cargo agent, ship-owner, banker, insurance agent and dealer of several travel-related activities. Its core activities now include the sale of packaged holidays. Mr. Anil Khandelwal, Chief Financial Officer of Cox & Kings resigned from his position due to personal reasons, effective from October 14, 2019.
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