Jobaaj Stories
Navin Fluorine International, a prominent chemical manufacturing company, announced the resignation of its Managing Director, Radhesh R. Welling, in a recent exchange filing. Welling, who has served as the company's Managing Director and a Director on the Board, has resigned for personal reasons.
On Thursday, September 28, the Board of Directors met to discuss his resignation, which was later accepted. Welling's departure from the company will take effect on December 15, 2023. In the meantime, he will continue to assist the organization in ensuring a smooth transition.
The company intends to appoint a senior professional as the new Managing Director in due course. In Welling's absence, Vishad P. Mafatlal, the Executive Chairman, will oversee the company's operations with assistance from the leadership team. The Board expressed its gratitude for Welling's contributions during his tenure and wished him success in his future endeavors.
During the same meeting, the Board of Directors approved Sudhir R. Deo's appointment as an Additional Director, effective September 28, 2023. Deo's appointment follows the Nomination and Remuneration Committee's recommendation.
Subject to shareholder approval, he takes on the role of Non-Executive Non-Independent Director of the company. Importantly, Deo has no familial ties to any existing Director of the company, and his directorship is not barred by any regulatory requirements.
As a result of these developments, Navin Fluorine International's stock fell to Rs 3,760.15 as of 11;36 a.m. IST on Friday.
Also read, Indian space agency's social media and private partnerships
