Balkrishna Industries Limited has announced a change in its Chief Financial Officer, following a board meeting held on June 17, 2026. The board approved the superannuation of Madhusudan Bajaj as CFO and the appointment of Saroj Kumar Khuntia as his successor, with effect from June 18, 2026.
Madhusudan Bajaj ceased to be the Chief Financial Officer and Key Managerial Personnel effective from the close of business hours on June 17, 2026, upon attaining the age of superannuation in line with company policy. The board placed on record its appreciation for his valuable contribution and leadership during his tenure. Bajaj had served as CFO of the tyre manufacturer before his superannuation on June 17.
Post his superannuation, Bajaj will continue to assist Balkrishna Industries as Special Advisor to the Chairman and Managing Director. Balkrishna Industries confirmed that this was not a case of resignation, and no resignation letter was applicable.
The board appointed Saroj Kumar Khuntia as the Chief Financial Officer and Key Managerial Personnel based on the recommendation of the Nomination and Remuneration Committee and the Audit Committee. Khuntia is a Fellow Chartered Accountant with over 24 years of experience in corporate finance, strategy, capital markets, treasury, taxation, governance, and finance transformation.
Khuntia has previously worked with CG Power, the Mahindra and Mahindra Group, IBM, and Hindustan Lever Limited across various senior finance roles. Khuntia will hold the additional role of Compliance Officer at Balkrishna Industries.
The board meeting of Balkrishna Industries commenced at 4:21 PM and concluded at 4:40 PM on June 17, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.