Laxmi Organic Industries Limited has announced a planned leadership transition. Dr. Rajan Venkatesh will step down as Managing Director & Chief Executive Officer and Director on November 13, 2026, to pursue opportunities outside the company. He will be succeeded by Mr. Harshvardhan Goenka, currently Executive Director, effective November 14, 2026, for a five-year term, subject to shareholder approval.
Leadership Transition at Laxmi Organic Industries
Laxmi Organic Industries Limited is undergoing a significant leadership change as part of its planned succession process. The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, has approved the transition of key leadership roles.
Dr. Rajan Venkatesh Steps Down
Dr. Rajan Venkatesh, who has been serving as the Managing Director & Chief Executive Officer (MD & CEO) and a Director of the Company, has tendered his resignation. This resignation is effective from the close of business hours on November 13, 2026. Dr. Venkatesh plans to pursue professional opportunities outside Laxmi Organic Industries. Concurrently, he will also cease to be a Key Managerial Personnel and a member of the Finance Committee and Risk Management Committee of the Company.
The Board has acknowledged Dr. Venkatesh’s contributions, stating, “The Board has placed on record its sincere appreciation for the valuable contribution, leadership and services rendered by Dr. Rajan Venkatesh during his tenure with the Company and wished him success in his future endeavours.”
Harshvardhan Goenka Appointed Successor
Following Dr. Venkatesh’s departure, Mr. Harshvardhan Goenka, currently the Executive Director, has been appointed and re-designated as the new Managing Director & Chief Executive Officer (MD & CEO). This appointment is effective from November 14, 2026, and will span a period of five (5) years, concluding on November 13, 2031. The appointment is contingent upon the approval of the shareholders of the Company and other necessary statutory/regulatory approvals.
Mr. Harshvardhan Goenka will continue with his existing remuneration and compensation package as Executive Director, subject to requisite approvals. His brief profile indicates a long association with the company since 2011 and prior board experience since November 2020, with significant contributions to strategic priorities, capital allocation, mergers, acquisitions, and business diversification. He holds a Bachelor’s degree from Babson College, USA, and is pursuing executive education at Harvard Business School. Mr. Goenka is related to Mr. Ravi Goenka (Executive Chairman) as his son and to Mr. Rajeev Goenka (Director) as his nephew, and is a member of the Promoter Group.
Company Statement on Transition
In a press release, the company highlighted that this transition is part of its succession planning to ensure continuity. Mr. Ravi Goenka, Executive Chairman, expressed gratitude for Dr. Venkatesh’s leadership and welcomed Mr. Harshvardhan Goenka, stating, “We are delighted that Harsh will assume leadership of Laxmi. He brings a strong understanding of the business, drive and strategic intent needed for the Company’s next phase of growth.” Dr. Venkatesh also conveyed his pleasure with the succession, stating, “I am pleased that Harsh will succeed me as part of this planned succession process, which provides continuity for all relevant stakeholders.”
About Laxmi Organic Industries Limited
Laxmi Organic Industries Limited is a global supplier of Essentials and Specialty chemicals, headquartered in Mumbai. The company emphasizes innovation, quality, safety, and sustainability, serving over 750 clients across various industries in more than 55 countries. Its product portfolio includes acetyl products and advanced specialty chemistries, supported by robust manufacturing facilities and an R&D centre.
Source: BSE
