Tembo Global Industries
Limited, a leading player in manufacturing and engineering solutions, has
announced significant changes to its Board of Directors and leadership team
following the Board meeting held on April 9, 2025.
Tembo Global Industries
Ltd. has recently changed a significant transformation in its leadership, with
the induction of a new Board of Directors and a Chief Financial Officer, all of
whom are highly experienced professionals with strong industry backgrounds. The
expertise and seniority of the newly appointed team are expected to bring
enhanced governance, sharper strategic direction, and improved operational
efficiency. With the company's ongoing expansion, this capable leadership is
well-positioned to drive sustainable growth and unlock greater value for
stakeholders in the times ahead.
Tembo is entering a
transformative phase, and these strategic appointments mark a bold step towards
driving sustainable growth and governance. Mr.
Sanjay Patel, Managing Director, Tembo Global Industries Limited, commented
on the change in Board and Management:
“Tembo is entering a
transformative phase, and these strategic appointments mark a bold step towards
driving sustainable growth and governance excellence. We warmly welcome our new
professional expertise Independent Directors and CFO namely, Ms. Homai A.
Daruwalla, Independent Director, is a veteran banker and former ex-Chairman and
Managing Director of Central Bank of India. A Chartered Accountant by qualification,
Ms. Daruwalla brings over 33 years of experience across Union Bank of India,
Oriental Bank of Commerce, and Central Bank of India, Mr. Ajay Madan,
Independent Director, is a seasoned Chartered Accountant with over 35 years of
experience in corporate audits, taxation, and debt syndication, Mr. Sumantra
Sarathi Mahata, Independent Director, is an experienced Company Secretary and
legal expert and is a qualified as FCS, LL.B. (Hons.), MBA in Finance, and a
Diploma in Arbitration, Mr. Nikunj Barot, Independent Director, is an
accomplished Chartered Accountant with more than 12 years of experience in
Direct and International Taxation, GST Compliance, and Litigation and Mr.
Girish Jethmalani who has been appointed as Chief Financial Officer, is a
professionally qualified as a Chartered Accountant and M.Com graduate and he
brings over 24 years of experience in finance, auditing, budgeting, and
operational excellence. This change in the Board and Management will bring
significant value to our growth and expansion, leveraging a combined experience
of 20 to 35 years on the board.”
Newly
Appointed Directors and CFO Shared Their Thoughts:
• Ms.
Homai A. Daruwalla: “It’s an honour to join the board of a
dynamic organization like Tembo Global Industries. I look forward to
contributing to its journey of innovation, transparency, and inclusive growth.”
• Mr.
Ajay Madan: “With Tembo’s clear vision and strong
fundamentals, I am excited to collaborate with the Board and management to
enhance financial discipline and stakeholder value.”
• Mr.
Sumantra Sarathi Mahata: “Corporate governance is key to long-term
success. I am committed to supporting Tembo’s mission by reinforcing compliance
and ethical practices across all levels.”
• Mr.
Nikunj Barot: “Joining the Board of Tembo is an exciting
opportunity. I aim to bring strategic financial insight and tax expertise to
support its ambitious goals.”
• Mr.
Girish Jethmalani shared: “I’m excited to join Tembo and contribute
to its financial growth and operational excellence.”
To ensure shareholder
participation in these developments, Tembo Global Industries has initiated a
Postal Ballot process for approval of the above appointments and other key
resolutions including enhanced borrowing powers, related party transactions,
and the TGI ESOP Scheme 2025.
In another key development,
Mr. Girish Jethmalani has been appointed as Chief Financial Officer, effective
April 10, 2025. A Chartered Accountant and M.Com graduate, Mr. Jethmalani
brings over 24 years of experience in finance, auditing, budgeting, and
operational excellence. He has held leadership positions at companies such as
Indef Manufacturing Ltd., Hercules Hoists Ltd., Sterling Biotech Ltd., Aneja
Associates, and Ambalal Thakkar & Associates. Known for implementing systems
that drive financial discipline and business expansion, he is poised to play a
pivotal role in supporting Tembo’s continued growth.
