Waaree Energies Limited announced comprehensive leadership changes following its Board meeting held on March 20, 2026. The solar energy company disclosed multiple senior management transitions effective March 21, 2026, marking a significant restructuring in its executive leadership.

CEO Leadership Transition

The Board approved a mutual agreement for Amit Ashok Paithankar to step down from his position as Whole-Time Director and Chief Executive Officer effective March 20, 2026. This represents an earlier departure than the previously announced date of May 15, 2026, as communicated in the company's December 29, 2025 intimation.

Jignesh Rathod, who was serving as CEO-Designate, has been appointed as the new Whole-Time Director and Chief Executive Officer for a five-year term from March 21, 2026 to March 20, 2031, subject to shareholder approval. Rathod brings extensive experience to the role, having been associated with the company since November 28, 2007. He holds a bachelor's degree in engineering from Gujarat University, an MBA for working executives from SVKM's NMIMS, and a Ph.D. in Business Administration from Xavier Institute of Business Management Studies. He is currently responsible for overseeing the operational functions at the factories of the Company.

CFO Appointment and Transition

The company announced changes in its financial leadership with Sonal Shrivastava ceasing her role as Chief Financial Officer at the closure of business hours on March 20, 2026. Her resignation letter, dated September 22, 2025, cited her decision to pursue strategic leadership opportunities outside the group.

Abhishek Pareek, currently serving as Group Head Finance, has been appointed as the new Chief Financial Officer and Key Managerial Personnel effective March 21, 2026. Pareek joined Waaree as Finance Controller in September 2017 and brings approximately 20 years of experience across corporate finance, treasury, mergers and acquisitions, and capital markets. His achievements include leading equity fundraisers of over USD 450 million across four private equity rounds and approximately USD 500 million through IPOs, along with extensive experience in debt financing of around USD 3 billion. He is a Qualified Chartered Accountant, B.Com graduate from Delhi University, and has completed Strategic Finance from IIM Kozhikode and Forex & Treasury Risk Management certification from ICAI and holds a PhD in Finance.

Senior Management Appointments

The Board approved the appointment of two Senior Managerial Personnel effective April 01, 2026:

Munna Singh, who joined Waaree Energies in July 2025 as Assistant Vice President - Finance, is a Qualified Chartered Accountant with experience across industries including PWC, Lafarge India, Reliance Cement, ACC Ltd, and Vedanta. Varun Goenka brings expertise in equity research, portfolio management, and thematic investing, with previous experience at companies including Anand Rathi, JM Financial, and Nippon India Mutual Fund.

Regulatory Compliance and Board Meeting Details

The Board meeting commenced at 06:00 P.M. and concluded at 06:20 P.M. on March 20, 2026. All appointments were made based on recommendations from the Nomination and Remuneration Committee, with the CFO appointment also receiving approval from the Audit Committee. The company confirmed that all new appointees are not debarred from holding their respective positions by SEBI or any other regulatory authority. The announcements were made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, with detailed disclosures provided in compliance with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Waaree Energies Limited has disclosed the authorization of Key Managerial Personnel (KMP) for determining materiality of events and making regulatory disclosures under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal communication was submitted to both BSE Limited and National Stock Exchange of India Limited on March 20, 2026.

Authorized Personnel Structure

The company has established a clear framework for regulatory compliance by designating specific executives for different disclosure responsibilities. This structure ensures streamlined decision-making and maintains transparency in corporate communications with stock exchanges.

Key Personnel for Materiality Determination

The following executives have been authorized to determine the materiality of events or information:

Personnel for Stock Exchange Disclosures

For making disclosures to stock exchanges, the company has designated:

Communication Channels

The company has established dedicated communication channels for investor relations and regulatory matters. All correspondence related to these disclosures can be directed to investorrelations@waaree.com , while general inquiries can be made through the company's main contact number 022 6644 4444.

Regulatory Compliance Framework

This disclosure fulfills the requirements under Regulation 30(5) of SEBI LODR Regulations, which mandates companies to identify and authorize specific personnel for determining materiality and making timely disclosures. The framework ensures that material information reaches stakeholders and regulatory bodies promptly and accurately.

The authorization structure reflects the company's commitment to maintaining high standards of corporate governance and regulatory compliance. By clearly defining roles and responsibilities, Waaree Energies has established an efficient system for handling material disclosures and maintaining transparency with market participants.