Abans Enterprises CEO Kayomarz Marzban Sadri Steps Down, Citing Personal Reasons

Abans Enterprises announced a significant change in its top leadership as Chief Executive Officer and Whole Time Director Kayomarz Marzban Sadri tendered his resignation. The company disclosed this development in a regulatory filing to the stock exchanges on July 25, 2025.

Resignation Details

Mr. Sadri, who holds the Director Identification Number (DIN) 07889169, submitted his resignation letter on July 24, 2025. The resignation is set to take effect after a three-month notice period, with his last working day scheduled for October 23, 2025. However, the Board of Directors or the Nomination, Remuneration & Compensation Committee (NRCC) may decide on an earlier date for his departure.

Reason for Departure

In his resignation letter, Mr. Sadri cited personal reasons for his decision to step down. He explicitly confirmed that there were no material reasons beyond personal circumstances for his departure from the company.

Transition Period

During the notice period, Mr. Sadri has committed to ensuring a smooth and seamless transition. He expressed his willingness to support the company as required during this time. The Board or NRCC will discuss the resignation at their next meeting and initiate the process to appoint a successor within the stipulated timeline.

Company's Response

Abans Enterprises acknowledged Mr. Sadri's resignation in its filing to the stock exchanges. The company stated that it would appoint a successor within the stipulated timeline and inform the stock exchanges accordingly.

Additional Resignations

In addition to his roles as CEO and Whole Time Director, Mr. Sadri has also resigned from all committees of the Board of which he was a member. This comprehensive step-down indicates a complete departure from his executive responsibilities within the company.

Market Impact

Following the announcement, Abans Enterprises issued a clarification regarding significant movement in its stock price. The company assured that it had made all necessary disclosures as required by SEBI regulations and attributed any price movements to market conditions.

As Abans Enterprises prepares for this leadership transition, stakeholders will be keenly watching for announcements regarding Mr. Sadri's successor and any potential impacts on the company's strategic direction.