Rajesh Laddha on December 17 resigned as the Chief Financial Officer (CFO) of Piramal Enterprises Limited. According to the exchange filing, Laddha has decided to move on to pursue his own entrepreneurial venture. Laddha would also step down from the Board of Directors of the Company with effect from February 10, 2022.
Laddha has been associated with the Piramal Group since 2001. During his tenure, he was responsible for managing various functions such as corporate finance, treasury, M&A, strategy and taxation. He also represented the Piramal Group on the boards of Shriram Capital, Vodafone and Allergan India, the release added.
Ajay Piramal, Chairman, Piramal Group, said, “We want to thank Rajesh for his exemplary contribution to the progress of our Group over the last 20 years. Recently, he played an important role in securing the DHFL transaction and raising INR 18,500 Crores of equity in PEL in the COVID-19 situation. Rajesh has also played a key role in several transactions including Piramal’s sale of its domestic formulations business to Abbott and successful investments in Shriram and Vodafone. I wish him all the best in the next phase of his career.”
Meanwhile, shares of Piramal Enterprises ended over 2 percent lower at Rs 2,515 apiece on the BSE, post the announcement.
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