Pune: Finolex Industries Limited announced that its Board of Directors has approved the appointment of Saurabh Dhanorkar as Managing Director for a period of two years, effective from 21st November 2024.
Dhanorkar has been associated with the Company since 1983, holding various roles, and was Managing Director until 2012, when he retired. A qualified Chartered Accountant, he played a key role in the Company’s growth from a Rs. 2 crore pipes manufacturer to a multi-location petrochemicals and plastics processing leader. He retired as Managing Director in 2016 and has since served as a Non-Executive Director for the past eight years.
Executive Chairman, Prakash Chhabria, highlighted the significance of this leadership change, commending Dhanorkar’s extensive experience in accounting, finance, commercial, strategy, marketing, and general management. He expressed confidence in Dhanorkar’s ability to steer Finolex into its next phase of growth and profitability, noting his client-centric approach, growth mindset, and unwavering commitment to the company’s values. Chhabria looks forward to new milestones under his leadership.
The Board, during its meeting on 24th October 2024, approved Dhanorkar’s appointment based on the recommendation of the Nomination & Remuneration Committee, with necessary disclosures filed with the Stock Exchanges. Ajit Venkataraman will step down as Managing Director at the close of business hours on 20th November 2024.
