Shares of Crompton slipped 10% in the morning trade today and hit a low of Rs 264.85 after the company announced some key changes in their top management on Monday evening. The company has appointed Promeet Ghosh as their new MD & CEO effective from May 1. Company’s Mathew Job has resigned from his position as the Company’s CEO and Executive Director, to pursue other career interests, the company said in an exchange filing on Monday.
The company also announced that Shantanu Khosla has been appointed and elevated as the company’s Executive Vice Chairman for a period of one year from May 1, 2023 till April 30, 2024, and thereafter as ‘Non Executive Vice Chairman’ till December 31, 2025. In his new role, Khosla will provide valuable counsel and advice to the new Managing Director on strategic matters and support the integration of Crompton and Butterfly.
