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Garware Synthetics Appoints Ms. Ujwala Somnath Tate as CEO with Immediate Effect
Team Finance Saathi
18/Dec/2024
What's Covered under the Article:
- Garware Synthetics appoints Ujwala Somnath Tate as CEO for a five-year term, effective immediately.
- Ms. Ujwala Somnath Tate brings over 27 years of experience in administration and factory management.
- The decision follows an official board meeting held on December 18, 2024, with other routine business discussed.
On December 18, 2024, Garware Synthetics Limited made a significant announcement during its Board of Directors meeting. The company has appointed Ms. Ujwala Somnath Tate as its new Chief Executive Officer (CEO) for a term of five years, effective immediately. This appointment is subject to approval by the shareholders of the company.
Ms. Tate has a strong background, having served in various roles in administration and factory management for over 27 years. She has completed her HSC in Commerce from Mumbai University, which laid the foundation for her distinguished career in the production and marketing sectors. Her leadership is expected to guide Garware Synthetics through its next phase of growth and innovation.
Details of the Appointment
The Board of Directors, in their meeting, approved this appointment, which marks a new chapter for the company’s management structure. As required by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the appointment of Ms. Ujwala Somnath Tate will be formally disclosed and is expected to help Garware Synthetics maintain its industry leadership. The company confirmed that Ms. Tate is not related to any other board members and is not disqualified from holding office by any statutory authority.
The appointment of a new CEO reflects the company's commitment to leadership development and strategic growth. With her extensive experience, Ms. Tate is poised to bring fresh perspectives to Garware Synthetics’ operations. The Board emphasized that this appointment will not only strengthen the company's management but also enhance its future prospects in the competitive market.
For Garware Synthetics Limited, this leadership transition comes as part of its ongoing corporate restructuring efforts. The company continues to focus on sustainable growth and market expansion, and Ms. Tate's leadership is expected to drive these initiatives forward. The Board also addressed routine business matters during the meeting, but the appointment of a new CEO was the highlight.
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