Ravi Kumar Pareek to Replace Hemant Dilip Wani in the Role of CFO at Nibe 

Nibe announced on Monday the resignation of its Chief Financial Officer, Hemant Dilip Wani, effective from April 22, 2024. Wani cited other professional commitments due to internal reorganization within the group as the reason for his resignation. In response to Wani’s departure, the company’s nomination and remuneration committee swiftly appointed Ravi Kumar Pareek as the new CFO, also effective from April 22, 2024.

Pareek brings over 12 years of post-qualification experience as a qualified Chartered Accountant with a Bachelor of Commerce degree. He possesses a diverse skill set, including strategic financial planning, budgeting, forecasting, risk management, and stakeholder communication, garnered from various industries such as tire manufacturing, metals & mining, pharmaceuticals, and wires & cable manufacturing.

In its recent financial report for Q3 FY24, the company demonstrated significant growth. Despite the positive financial indicators, the company’s scrip witnessed a 4.60% decline. Nibe operates in electronic components and fabrication materials, providing technical consultancy and turnkey services for the design, supply, erection, testing, and commissioning of low and medium voltage lines and substations.

With Pareek’s appointment, Nibe aims to navigate the transition smoothly and maintain its growth trajectory, ensuring financial stability and strategic planning under new leadership.

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