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Spandana Sphoorty CEO resigns; CFO takes over
Business Standard
|April 24, 2025
Shalabh Saxena, managing director and chief executive officer (MD & CEO), Spandana Sphoorty Financial Limited (SSFL) has resigned with immediate effect, even as the loss-making non-banking financial company working as a micro finance institution is battling the ongoing microfinance stress.
Ashish Kumar Damani, current president and chief financial officer (CFO), will be the Interim CEO of the company with effect from April 23, 2025. The appointment of Damani — who was working as CFO since March 19, 2022 — was confirmed by the company board.
"The company remains committed to a seamless transition in its leadership," SSFL said in filing with BSE.
The stock of the company closed six per cent lower at ₹305.2 per share on BSE.
This story is from the April 24, 2025 edition of Business Standard.
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