Spandana CFO Satish Kottakota, CSO Abdul Feroz Khan resign

Spandana Sphoorty Financial Ltd on October 1 announced the resignations of its Chief Financial Officer (CFO) Satish Kottakota and Chief Strategy Officer (CSO) Abdul Feroz Khan.

The Board of Directors had "accepted the resignations", the company said in a regulatory filing, issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

While Kottakota's resignation has come into immediate effect, Khan would vacate his position on November 15, 2021, Spandana noted.

The reason behind the resignation of Kottakota was stated as: "health and personal reasons". In Khan's case, the company cited "business opportunities outside the Spandana Group" as the reason behind his exit.

"The Board of the Directors had pursuant to a resolution dated October 1, 2021 accepted the above resignations and placed on record its sincere appreciation for Mr. Satish Kottakota and Mr. Abdul Feroz Khan’s service and contribution to the Company during their tenure as the Chief Financial Officer and Chief Strategy Officer, respectively," the regulatory filing noted.

The new CFO and CSO, who would replace Kottakota and Khan, respectively, were yet to be named.