Tirupati Tyres MD and CEO Avinash Anil Ghorpade Resigns Due to Personal Reasons

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Tirupati Tyres MD and CEO Avinash Anil Ghorpade Resigns Due to Personal Reasons

Team Finance Saathi

04/Dec/2024

What's covered under the Article:

Avinash Anil Ghorpade resigned from his role as Managing Director and CEO of Tirupati Tyres.
The resignation is due to personal reasons, as confirmed by Ghorpade in his letter.
Tirupati Tyres acknowledges Ghorpade's contributions and assures of formalities completion.

On December 4, 2024, Tirupati Tyres Limited announced the resignation of its Managing Director and Chief Executive Officer, Mr. Avinash Anil Ghorpade, effective from December 3, 2024. The company provided an official disclosure to both the BSE and MSE in accordance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In his resignation letter, Mr. Ghorpade cited personal reasons as the primary factor for stepping down from his position. He further confirmed that there were no other material reasons for his resignation apart from personal preoccupations.

The resignation letter, which was submitted by Mr. Ghorpade to the company's management, highlighted his appreciation for the support and opportunities provided by the team during his tenure. His decision was driven solely by personal commitments, and he confirmed that his resignation was not due to any disputes or conflicts within the company. The Board of Directors of Tirupati Tyres has formally acknowledged his resignation, and the company has expressed its gratitude for his valuable contributions during his tenure as MD and CEO.

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Tirupati Tyres Limited also made it clear that all required formalities regarding Mr. Ghorpade's resignation would be completed in due course, in compliance with all applicable corporate governance norms. The resignation of such a key figure in the company has raised some questions among investors and analysts, but the company assures the public and stakeholders that it will continue to adhere to the SEBI regulations and provide necessary updates.

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Tirupati Tyres MD and CEO Avinash Anil Ghorpade Resigns Due to Personal Reasons

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