According to the company’s website press release on February 27, 2023, Laxmi Organic Industries Ltd. (“Laxmi or the Company”) announced that Mr. Satej Nabar has resigned from office of the Executive Director & CEO. His tenure will end at the end of business on 2nd April 2023, and he will be with the Company till May 31, 2023. The Board is appreciative of and thankful to Mr. Satej Nabar for his valuable contribution towards the Company’s growth. His leadership over the last three years has been very impactful.
Laxmi also announced that its Board of Directors has selected Dr. Rajan Venkatesh as Managing Director & Chief Executive Officer (MD & CEO) and his appointment will be effective from April 3, 2023. Dr. Rajan has nearly two decades of global experience in the chemical industry and has a strong track record of working in different roles spanning business management, research, sales, marketing and investment projects, across Europe, Asia (including India). The Board believes that he is the right person to lead Laxmi at this transformative time.
Dr. Rajan will join Laxmi from BASF, where he was and responsible for a Euro 1 billion business, across Asia (Greater China, ASEAN, South Asia, Japan, Korea, Australia and New Zealand). Dr. Rajan holds a Doctor of Philosophy in Polymer Chemistry from Eindhoven University of Technology, Netherlands; a Master of Philosophy in Polymer Science & Technology from The University of Manchester, UK and Master of Science in Organic Chemistry from Institute of Chemical Technology, Mumbai, India.
Ms. Sangeeta Singh, Chairperson of the Nomination & Remuneration Committee, stated, “After a comprehensive global search effort, we are pleased to appoint Dr. Rajan Venkatesh as the MD & CEO. He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Laxmi.”
Mr. Ravi Goenka, the current Chairman & Managing Director, will continue as an Executive Chairman of the Company.
About Laxmi:
Laxmi is one of the largest global producers of Acetyls and Speciality Intermediates and about to commence its journey in Fluro Intermediates. We cater to our customers in more than 40 countries with an emphasis on innovation, sustainability, consistent quality, and dependable supplies to become a partner to leading global customers. Visit www.laxmi.com to get more detail about the Company.
Safe Harbor:
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risk and uncertainties relating to the statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting demand / supply and price conditions in domestic and international markets. The Company does not undertake to update any forward -looking statement that may be made from time to time by or on behalf of the Company. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The Company does not make any promise to update/provide such presentation along with results to be declared in the coming quarters and years.
