Waaree Energies Limited announced key leadership changes following its Board meeting on March 20, 2026. Mr. Amit Ashok Paithankar has stepped down as Whole-Time Director and CEO, effective immediately. The Board approved the appointment of Mr. Jignesh Devchandbhai Rathod as the new Whole-Time Director and CEO, effective March 21, 2026. Additionally, Mr. Abhishek Pareek takes over as CFO.
Waaree Energies Announces Key Executive Transitions
Waaree Energies Limited has confirmed several significant changes to its top executive structure following a Board meeting held on Friday, March 20, 2026. These changes affect the roles of the Chief Executive Officer, Chief Financial Officer, and other Senior Managerial Personnel (SMPs).
Cessation of Existing Directors
The Board noted two key cessations:
- The mutual agreement for Mr. Amit Ashok Paithankar to be relieved from his position as Whole – Time Director and Chief Executive Officer, effective March 20, 2026, ahead of the previously intimated date of May 15, 2026.
- The cessation of Ms. Sonal Shrivastava from the position of Chief Financial Officer, effective the closure of business hours on Friday, March 20, 2026, following the completion of her notice period.
Appointment of New Whole-Time Director and CEO
Based on recommendations from the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Jignesh Devchandbhai Rathod (presently 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’s Profile Highlights:
Mr. Rathod holds a Doctorate (Ph.D.) in Business Administration and has been associated with the Company since November 28, 2007. He is currently responsible for overseeing the operational functions at the Company’s factories. His appointment term is set for five years, running from March 21, 2026, to March 20, 2031.
Appointment of New Chief Financial Officer (CFO)
Following approvals from the Nomination and Remuneration Committee and the Audit Committee, the appointment of Mr. Abhishek Pareek as Chief Financial Officer and Key Managerial Personnel was approved. Mr. Pareek (presently Group Head Finance) assumes office effective Saturday, March 21, 2026.
Mr. Pareek’s Profile Highlights:
Mr. Pareek is a seasoned finance leader with approximately ~20 years of experience across corporate finance, M&A, and Controllership. He has extensive experience in managing large equity fundraisers (over USD 450 million) and debt financing (of nearly ~USD 3 billion). He holds a PhD in Finance.
Appointments in Senior Managerial Personnel (SMP)
The Board also 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, having previously worked with PWC and Reliance Cement.
- Mr. Varun Goenka appointed as President – Growth & Strategy. Mr. Goenka brings 22–24 years of experience in Indian capital markets, with expertise in Equity Research and Thematic Investing.
Source: BSE
