Yaap Digital appoints Jigesh Shah as CFO effective July 10, 2026
Yaap Digital Limited appointed Jigesh Shah as its Chief Financial Officer effective July 10, 2026, following the resignation of Shyamal Madhvi. Madhvi stepped down to facilitate the appointment of a professional with broader strategic expertise but will continue as Head of Finance. Shah, a Chartered Accountant with over 27 years of experience, previously held key finance roles at Yash Raj Films Private Limited and Telstra India Private Limited.
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Yaap Digital Limited has appointed Jigesh Shah as its Chief Financial Officer (Key Managerial Personnel) effective July 10, 2026, succeeding Shyamal Madhvi. The Board accepted Madhvi's resignation from the CFO position, though he will continue to support the management as the Finance Head. This leadership change follows the unfortunate demise of the company's Managing Director, Mr. Atul Hegde, which prompted a strategic review of the company's operational dynamics.
Leadership Transition
The Board of Directors, in its meeting held on July 10, 2026, approved the transition to align with the company's evolving business requirements. Mr. Shyamal Madhvi voluntarily stepped down from the position of CFO to facilitate the appointment of a professional with broader strategic expertise. He expressed his commitment to ensuring continuity and a smooth transition in his new role as Head of Finance.
Profile of New CFO
Mr. Jigesh Shah brings extensive experience to the role, having worked in corporate finance, financial strategy, and governance for over 27 years. He is a Chartered Accountant and a first-class Bachelor of Commerce graduate from Bombay University. His expertise spans Strategic Financial Planning & Analysis (FP&A), Treasury & Banking Operations, Risk Management, and compliance with Ind AS.
Previous Experience
Prior to joining Yaap Digital, Mr. Shah served as General Manager - Finance at Yash Raj Films Private Limited, where he managed treasury operations and credit structures. He also held the position of Manager - Finance Accounts at Telstra India Private Limited, leading financial data migration projects. His career includes key finance roles at Express it Logistics Worldwide, IT-People (India), TransIndia Freight Services, and Meridian Cargo Express.
Regulatory Disclosures
The company confirmed that there are no material reasons for the resignation other than those stated in the resignation letter. The appointment was made pursuant to Section 203 of the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Shah is not related to any director of the company and is not debarred from holding the office of director by SEBI or any other authority.
| Particulars | Resignation of Mr. Shyamal Madhvi | Appointment of Mr. Jigesh Shah |
|---|---|---|
| Reason for change | Resignation as CFO to continue as Finance Head in best interest of Company. | Appointment as CFO of the Company. |
| Date of change | Ceased to hold office of CFO with immediate effect. | Appointed as CFO with effect from July 10, 2026. |
| Experience | Not Applicable | Chartered Accountant with over 27 years of experience. |
Historical Stock Returns for Yaap Digital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.30% | -1.93% | -13.37% | +12.52% | +12.52% | +12.52% |
How will Jigesh Shah's extensive background in treasury and risk management influence Yaap Digital's financial strategy in the coming fiscal year?
What specific operational changes or strategic shifts can be expected following the recent leadership transition and the passing of the Managing Director?
Will the company initiate a search for a new Managing Director, and how will the CFO's role evolve during this interim period?
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