Zaggle Appoints Venkatesh Ramachandran as Group CFO Effective May 18, 2026
Zaggle Prepaid Ocean Services' Board approved the appointment of Venkatesh Ramachandran as Group CFO effective May 18, 2026, on the recommendation of the Nomination and Remuneration and Audit Committees. Rajesh Tummalaganti, who served as Interim CFO, will cease in that role on May 17, 2026, but continues as Deputy CFO. Ramachandran brings over 27 years of experience spanning pharmaceuticals, logistics, IT services, and infrastructure, having previously served as CFO at Biological E. Limited, among other senior roles.
*this image is generated using AI for illustrative purposes only.
The Board of Directors of Zaggle Prepaid Ocean Services Limited, at its meeting held on May 13, 2026, approved the appointment of Mr. Venkatesh Ramachandran as Group Chief Financial Officer (Key Managerial Personnel and Senior Management) of the Company, effective May 18, 2026. The appointment was made on the recommendation of the Nomination and Remuneration Committee and Audit Committee, in continuation of the Company's earlier intimation dated April 03, 2026. The Board Meeting commenced at 2:15 PM IST and concluded at 3:35 PM IST.
Leadership Transition in Finance Function
With the appointment of Mr. Venkatesh Ramachandran, Mr. Rajesh Tummalaganti will cease to hold the position of Interim Chief Financial Officer (Key Managerial Personnel and Senior Management) effective upon closure of business hours on May 17, 2026. Mr. Tummalaganti will, however, continue to serve the Company in the capacity of Deputy Chief Financial Officer. The key details of this transition are summarised below:
| Parameter: | Mr. Rajesh Tummalaganti | Mr. Venkatesh Ramachandran |
|---|---|---|
| Role Change: | Ceased as Interim CFO | Appointed as Group CFO |
| Effective Date: | May 17, 2026 (closure of business hours) | May 18, 2026 |
| Continuing Role: | Deputy Chief Financial Officer | Group CFO (Key Managerial Personnel) |
Profile of Incoming Group CFO
Mr. Venkatesh Ramachandran is a seasoned finance and management professional with over 27 years of experience across a diverse range of industries. His sectoral expertise spans pharmaceutical, life sciences, vaccines, logistics, IT services, retail, telecom, and infrastructure sectors.
Most recently, he served as Chief Financial Officer at Biological E. Limited, where he led strategic finance, governance, capital planning, and transformation initiatives. Prior to this, he held the positions of Director and Group CFO at NTC Logistics Private Limited, and CFO at Aragen Life Sciences Limited and Prolifics Corporation Limited. He has also managed key finance assignments with Spencer's Retail, Hutchison Essar, and Infrastructure Leasing & Financial Services (IL&FS).
Over the course of his career, Mr. Venkatesh has developed expertise across the following areas:
- Mergers and acquisitions
- International finance and accounting
- Private equity
- Initial Public Offering (IPO)
- Corporate restructuring
- Capital raising
- Governance and compliance frameworks
- Operational transformation
He has a proven track record in driving enterprise growth, strengthening compliance frameworks, and enhancing shareholder value across multinational and high-growth business environments.
Regulatory Compliance
The intimation has been made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular dated January 30, 2026. The disclosure was filed by the Company Secretary and Compliance Officer on May 13, 2026.
How might Mr. Venkatesh Ramachandran's extensive M&A and capital-raising expertise influence Zaggle's growth strategy, including potential acquisitions or fundraising plans in the near term?
Given his background in IPO execution, could Mr. Ramachandran's appointment signal Zaggle's intent to pursue secondary offerings, QIPs, or other capital market activities to fund expansion?
How will the dual CFO structure — with Mr. Tummalaganti continuing as Deputy CFO — impact financial decision-making efficiency and governance at Zaggle?
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