Gensol Engineering Ltd on Friday announced that it had re-appointed Jabirmahendi Aga as its new Chief Financial Officer (CFO), effective immediately.
Aga will replace Ankit Jain, who has decided to pursue other opportunities, the company said in an investor release available on stock exchanges.
Shares of Gensol Engineering Ltd slipped following the announcement on Friday, opening at its intraday low of ₹307.25 apiece on the NSE. This marks the 10th consecutive session for the stock being in red, despite it gained in early trade. At 10:50 am, Gensol Engineering stock was down 3.18 per cent at ₹324.15 per share.
Who is Jabirmahendi Aga?
Jabirmahendi Aga, the new CFO of Gensol Engineering, brings to the company over 14 years of experience in finance.
He has a “deep understanding of Gensol’s financial operations, having previously served as the CFO for Gensol Engineering”.
“In this role, Jabir will report directly to Anmol Singh Jaggi, Chairman & Managing Director, Gensol Engineering Limited,” the company said.
New CFO joins at a ‘tough time’
CMD Anmol Singh Jaggi welcomed Aga back to his role, while acknowledging that the company is going through tough times.
“We are delighted to welcome Jabir back to the team and are confident that his expertise and experience will be invaluable in driving the company’s future growth and success,” he said.
The CMD said that with his experience, Aga will be able to lead the company through its tough times.
“His long-standing association with Gensol and his proven track record make him the ideal candidate to guide our financial operations. We are confident that his expertise will be invaluable as we steer the current market landscape and drive our strategic growth initiatives. We are going through a tough time, and Jabir is the man best suited to lead us through it,” Jaggi said.
“I would also like to take the opportunity to thank Ankit Jain for his contributions over the past months. His contributions have been instrumental, and we wish him all the best in his future endeavors,” he added.
Gensol in its investor release said that the company remained “committed to its strategic priorities” and was confident that this leadership transition will help in achieving its financial and operational objectives.