Remsons Industries Limited has appointed Rahul Desai as its new Chief Executive Officer, effective August 3, 2026, marking a leadership transition at the automotive components manufacturer. The Board of Directors also accepted the resignation of Amit Srivastava from the role of Group CEO, which will take effect at the close of business hours on September 4, 2026. The decisions were approved during a board meeting held on July 27, 2026, ensuring a structured handover period between the outgoing and incoming executives.

The appointment of Mr. Desai follows a recommendation from the Nomination and Remuneration Committee. He brings over 30 years of experience in the automotive manufacturing sector, including more than 17 years in senior leadership roles. Most recently, he served as Executive Director and CEO at Pinnacle Industries Limited, where he led operations across five plants with end-to-end profit and loss accountability. Prior to that, he spent nearly a decade as CEO at CIE India, overseeing Magnetic Products, Composites, and Stamping divisions across ten plants. His career also includes senior operational leadership positions at GKN Sinter Metals Limited and Inteva Products India.

Amit Srivastava tendered his resignation via a letter dated June 18, 2026, citing personal reasons for his departure from the position of Group CEO and all related roles within the company and its group entities. In accordance with his employment terms, he is serving a 90-day notice period. The Board expressed sincere appreciation for his valuable contributions and services during his tenure. Mr. Srivastava has confirmed he will extend all necessary assistance to ensure an orderly transition and completion of handover before his last working day.

Mr. Desai holds a bachelor’s degree in mechanical engineering and is a certified Six Sigma Black Belt. He has completed executive leadership programmes at the Indian Institute of Management, Ahmedabad, and in the United States, along with advanced production-management training in Japan. Throughout his career, he has successfully led greenfield projects, lean manufacturing initiatives, Six Sigma deployment, cost-optimisation programmes, and ESG initiatives. He is known for building high-performing teams and delivering sustainable growth through strategic partnerships with leading global original equipment manufacturers (OEMs).

Key Details of Leadership Transition

The company disclosed these developments pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also complies with SEBI Master Circular bearing No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. Rohit Darji, Company Secretary and Compliance Officer, signed the disclosure letter addressed to the Bombay Stock Exchange and the National Stock Exchange of India Limited.

What This Means for Stakeholders

The staggered effective dates of the resignation and appointment create an overlap period where both executives are technically associated with the company, facilitating knowledge transfer. Rahul Desai’s extensive background in plant operations excellence and strategic planning aligns with Remsons Industries’ focus on manufacturing efficiency. His experience leading multi-plant operations and managing end-to-end P&L responsibilities suggests a focus on operational scale and profitability in his new role. The transition ensures continuity in leadership while introducing fresh strategic perspectives from an executive with deep roots in the automotive supply chain.

Remsons Industries temporarily suspended operations at its manufacturing facilities in Daman and Gujarat on July 23, 2026, due to severe flooding and waterlogging caused by incessant heavy rainfall. The disruption affects facilities located at Diamond, Somnath Road in Daman, and Survey No. 146, Pardi Karia Road in District Valsad, Gujarat. The company initiated the suspension as a precautionary measure to ensure safety amidst the prevailing conditions.

The extent of the damage to plant and machinery, inventory, and other assets is currently being assessed. Access to certain areas of the manufacturing facilities remains restricted due to waterlogging, making it difficult to ascertain the financial impact at this stage. Remsons Industries stated that further updates would be provided once material information becomes available.

The assets at the affected manufacturing facilities are adequately covered under the company's insurance policies. Remsons Industries has initiated all necessary measures to safeguard its assets, assess the damage, and restore operations at the earliest. The intimation was submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Affected Facilities