Duroply Industries Limited has announced the resignation of Pawan Kumar Verma from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). As per the company’s official statement, his resignation is due to personal reasons, and he will be relieved from his duties effective from the close of business hours on February 28, 2025.

The company has formally communicated this update to BSE Limited (Bombay Stock Exchange) in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details and Official Statement

In an official letter addressed to the Board of Directors of Duroply Industries Limited, Pawan Kumar Verma formally tendered his resignation from the role of CFO. He requested the Board to accept his resignation and take the necessary actions to facilitate a smooth transition.

The company has enclosed the resignation letter and necessary disclosures as required under SEBI guidelines, ensuring transparency and regulatory compliance.

Impact on Duroply Industries and Future Steps

As a key managerial personnel, the CFO plays a crucial role in financial planning, strategy, and compliance. Pawan Kumar Verma’s resignation comes at a time when corporate governance and financial oversight are critical for businesses navigating the evolving market landscape.

The Board of Duroply Industries Limited is expected to announce a successor in the coming days to ensure continuity in financial leadership and operations. Until a replacement is appointed, the company will likely implement interim measures to manage financial affairs effectively.

SEBI Compliance and Market Transparency

According to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, any significant managerial changes must be promptly disclosed to the stock exchanges. Duroply Industries Limited has fulfilled its obligation by informing BSE Limited and making the necessary disclosures as per SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The company has provided a structured disclosure under Annexure A, listing the following details:

• Reason for Change: Resignation due to personal reasons
• Date of Cessation: February 28, 2025
• Term of Appointment: Not applicable
• Disclosure of Relationship with Directors: Not applicable

Duroply Industries: A Leading Player in the Plywood Industry

Duroply Industries Limited is a renowned manufacturer of premium plywood and wood-based products. The company has a strong presence in India’s construction and interior design markets, supplying high-quality plywood to residential and commercial projects.

With a commitment to sustainability, innovation, and quality, Duroply has built a trusted reputation in the plywood and furniture industry. The departure of a senior executive like the CFO marks a significant leadership transition, and stakeholders will be keen to see how the company manages this change.

What’s Next for Duroply Industries?

Following the resignation of Pawan Kumar Verma, Duroply Industries will focus on:

• Identifying a new CFO to oversee financial strategy and compliance
• Ensuring smooth financial operations during the transition period
• Maintaining investor confidence through transparent corporate governance

The company’s next CFO appointment will be a crucial decision, as financial leadership plays a pivotal role in navigating market challenges and driving business growth.

Conclusion

The resignation of Pawan Kumar Verma as CFO of Duroply Industries Limited marks an important leadership change for the company. While his departure is attributed to personal reasons, his role as a financial leader has been vital in shaping the company’s financial strategies.

As the company moves forward, the appointment of a new CFO will be closely watched by investors, employees, and market analysts. Duroply Industries remains committed to corporate governance, regulatory compliance, and financial stability as it navigates this executive transition.

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