Waaree Energies Limited announced key management changes effective March 20/21, 2026. Mr. Amit Ashok Paithankar has stepped down as Whole-Time Director and CEO earlier than scheduled. Mr. Jignesh Rathod has been appointed as the new Whole-Time Director and CEO. Furthermore, Mr. Abhishek Pareek takes over as CFO, succeeding Ms. Sonal Shrivastava, who resigned upon completing her notice period. Two new Senior Managerial Personnel were also appointed.
Executive Leadership Transitions Confirmed
The Board of Directors of Waaree Energies Limited held a meeting on Friday, March 20, 2026, resulting in several significant leadership appointments and cessations designed to streamline the executive structure.
Cessation of CEO and WTD
The Company confirmed the mutual agreement with Mr. Amit Ashok Paithankar to be relieved from his role as Whole – Time Director and Chief Executive Officer, effective Friday, March 20, 2026. This date is earlier than the previously intimated date of May 15, 2026.
Appointment of New CEO
Following the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Jignesh Devchandbhai Rathod, who was serving as CEO – Designate, as the new Whole -Time Director and Chief Executive Officer. This appointment is effective starting Saturday, March 21, 2026, pending shareholder approval.
- Mr. Jignesh Rathod Profile: He holds a Doctorate (Ph.D.) in Business Administration and has been associated with the Company since November 28, 2007, currently overseeing factory operational functions.
- Term: His term as Whole – Time Director and CEO is set for five years, running from March 21, 2026, to March 20, 2031.
CFO Role Changes
The Board also noted the cessation of Ms. Sonal Shrivastava from the position of Chief Financial Officer (CFO) at the close of business hours on Friday, March 20, 2026, following the completion of her notice period.
Effective Saturday, March 21, 2026, the Board approved the appointment of Mr. Abhishek Pareek (presently Group Head Finance) as the new Chief Financial Officer and Key Managerial Personnel (KMP).
- Mr. Abhishek Pareek Profile: A seasoned finance leader with approximately 20 years of experience across corporate finance, M&A, and controllership. He holds a PhD in Finance and joined Waaree as Finance Controller in September 2017.
New Senior Managerial Personnel (SMP) Appointments
Based on committee recommendations, the appointments for two additional Senior Managerial Personnel were also approved, effective Wednesday, April 01, 2026:
- Mr. Munna Singh appointed as Deputy Chief Financial Officer (“Deputy CFO”). Mr. Singh is a Qualified Chartered Accountant with 20 years of experience, joining Waaree in July 2025.
- Mr. Varun Goenka appointed as President – Growth & Strategy. Mr. Goenka brings significant experience in Indian capital markets from firms like JM Financial and Anand Rathi.
Source: BSE
