Waaree Energies Limited announced significant leadership changes following its Board meeting on March 20, 2026. Mr. Amit Pathankar stepped down early as Whole-Time Director and CEO, effective immediately. Mr. Jignesh Rathod was appointed as the new Whole-Time Director and CEO starting March 21, 2026. Additionally, Mr. Abhishek Pareek assumed the role of Chief Financial Officer (CFO).
Key Executive Transition Confirmed
Waaree Energies Limited held a Board meeting on Friday, March 20, 2026, where several significant management changes were approved. Effective immediately, the Board noted the mutual agreement for Mr. Amit Ashok Paithankar to be relieved from his duties as Whole – Time Director and Chief Executive Officer (CEO). This cessation occurred earlier than the previously intimated date of May 15, 2026.
Appointment of New CEO and WTD
Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Jignesh Devchandbhai Rathod, who was serving as the CEO – Designate, as the new Whole -Time Director and Chief Executive Officer. This appointment is effective from Saturday, March 21, 2026, pending shareholder approval. Mr. Rathod has been associated with the Company since November 28, 2007, and holds a Doctorate (Ph.D.) in Business Administration.
CFO Cessation and Appointment
The Board also noted the cessation of Ms. Sonal Shrivastava from the position of Chief Financial Officer (CFO) effective at the close of business on Friday, March 20, 2026, upon completion of her notice period. Following this, and based on committee recommendations, Mr. Abhishek Pareek (presently Group Head Finance) was approved as the new Chief Financial Officer and Key Managerial Personnel (KMP), effective Saturday, March 21, 2026.
Mr. Pareek is a seasoned finance leader with approximately 20 years of experience and has been with Waaree as Finance Controller since September 2017.
Appointment of Senior Managerial Personnel (SMPs)
Further, the Nomination and Remuneration Committee recommended, and the Board approved, the appointment of two new Senior Managerial Personnel (SMPs) 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 across industries including PWC and Reliance Cement.
- Mr. Varun Goenka appointed as President – Growth & Strategy. Mr. Goenka brings 22–24 years of experience in Indian capital markets, working with firms like JM Financial and Nippon India Mutual Fund.
Source: BSE
