Shares of Concord Control Systems Ltd declined by nearly 5% on March 11 following the company announced the appointment of Gaurav Lath as its Chief Financial Officer (CFO). The stock was trading at ₹1,041.50, down ₹53.50 from its previous close of ₹1,095 on the Bombay Stock Exchange (BSE).
In a regulatory filing, Concord Control Systems stated that the Board of Directors approved the appointment of Gaurav Lath as CFO during their board meeting held on March 10, 2025. Lath, who has been serving as the Joint Managing Director, will now take on additional responsibilities as CFO.
The company highlighted that Lath brings over 15 years of experience in manufacturing electrical and electronic equipment. He has played a crucial role in overseeing business operations, financial planning, supply chain management, and risk assessment. His appointment is expected to strengthen the company’s financial leadership.
Despite the strategic move, investors reacted negatively, leading to a nearly 5% decline in the stock price. The market sentiment around the announcement remains cautious, possibly due to broader industry trends or investor concerns about corporate governance and leadership transitions.
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