VIP Industries Limited announced key leadership changes following its Board meeting on March 10, 2026. Mr. Manish Desai has relinquished his role as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective March 10, 2026, to take on a new role internally. The Board approved the appointment of Mr. Rahul Poddar as the new CFO and KMP, effective March 11, 2026, based on recommendations from the Nomination and Remuneration Committee.
Key Management Changes Approved by the Board
The Board of Directors of VIP Industries Limited convened on March 10, 2026, to approve significant changes within the Senior Management Team, effective immediately following the meeting.
CFO Relinquishment
Mr. Manish Desai has stepped down from the positions of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), with the cessation effective from the close of business hours on March 10, 2026. The company confirmed that Mr. Desai will continue his employment with the organization in a new internal role. The Board extended its deep appreciation for his services rendered in the CFO capacity.
Appointment of New CFO
Following recommendations from the Nomination and Remuneration Committee and the Audit Committee, the Board approved the appointment of Mr. Rahul Poddar as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). This appointment is effective from March 11, 2026.
Profile of Mr. Rahul Poddar
Mr. Poddar is a Chartered Accountant bringing over 20 years of diversified experience across retail, manufacturing, and e-commerce sectors. His expertise covers strategy, financial management, internal controls, ERP implementation, and treasury management. Prior to joining VIP Industries, he served as Group Controller at Reliance Retail Ventures Limited and as CFO for Reliance Jewels Ltd., where he led significant finance transformation initiatives.
Authorization for Disclosures
The Board has also authorized Mr. Rahul Poddar, in his capacity as CFO, to determine the materiality of events or information and handle subsequent disclosures to the Stock Exchanges, as per internal policy. Consequently, the following three Key Managerial Personnel are now jointly authorized under the relevant regulations to manage and make such disclosures:
- Mr. Atul Jain – Managing Director
- Mr. Rahul Poddar – Chief Financial Officer
- Mr. Ashitosh Sheth – Company Secretary & Head – Legal
The Board meeting commenced at 03:30 PM and concluded at 04:11 PM on the date of the announcement.
Source: BSE
