Laxmi Organic Industries Limited is navigating a leadership transition in its finance function as it bids farewell to its long-standing Chief Financial Officer, Mahadeo Karnik. The board confirmed Karnik’s resignation, with his duties to be relieved by the close of business on April 13, 2026. In a move aimed at ensuring a seamless handover, the company thanked Karnik for his contributions during his tenure and signaled its intent to pursue a structured succession plan.
To maintain continuity, the board appointed Harshvardhan Goenka, an Executive Director of the company, as Interim Chief Financial Officer effective at the start of business hours on April 14, 2026. Goenka brings a track record within the organization and is expected to steer financial operations while the search for a permanent CFO progresses. Since joining the board in November 2020, Goenka has played a pivotal role in shaping the company’s strategic direction and growth agenda.
On the governance front, the management has identified a successor for the CFO role, with a tentative joining date of June 15, 2026. The proposal for the new CFO will be deliberated by the Nomination and Remuneration Committee, the Audit Committee, and the Board in the coming weeks, underscoring the company’s emphasis on a careful, process-driven transition. In the meantime, Laxmi Organic remains focused on execution and strategic initiatives across its chemical business, underscoring a pragmatic approach to leadership change.