The Board of Directors of Spandana Sphoorty Financial Limited at its meeting held today i.e., March 18, 2022 (commenced at 7.00 p.m. and concluded at 7.45 p.m.) has, approved the appointment of Mr. Shalabh Saxena (DIN: 08908237) as Additional Director with effect from March 19, 2022 and Managing Director and Chief Executive Officer of the Company for a period of 5 (five) years with effect from March 19, 2022 to March 18, 2027, subject to the approval of the Members of the Company.
The board also approved the appointment of Mr. Ashish Damani as President and Chief Financial Officer of the Company with effect from March 19, 2022.
Mr. Shalabh Saxena has over 26 years of strong retail finance experience and his expertise lies in consumer banking and life insurance industry. Throughout his career, he has run large profit centres and SBUs across various business lines in Life Insurance and Consumer Banking. Core competence and exposure revolves around distribution and handling sales in large business environments, Marketing, Strategy, Information Technology, Planning, Alliances and Acquisitions.
In his long tenure, Mr. Saxena was the Managing Director and Chief Executive Officer of Bharat Financial Inclusion Limited, Director - Marketing & Customer Retention, Canara HSBC Oriental Bank of Commerce Life Insurance and among others in his previous organisations viz., HSBC Life Insurance, ING Life Insurance and Standard Chartered Bank.
Mr. Saxena is a Post Graduate in Masters Business Administration from B K School of Management, Ahmedabad.
Mr. Ashish Damani has over 22 years of corporate experience and his expertise lies in Business Planning, Strategy, Structured Finance & Equity, Process, Risk Management, Accounts and Audit. He also has an experience of handling Information Technology, Risk, Finance & Accounts, Process, Cross sell and Administration functions.
Mr. Damani held key managerial positions of Executive Director, Chief Financial Officer among others in his previously employment with Bharat Financial Inclusion Limited (formerly known as 'SKS Microfinance Limited') over a period of 19 years. He was formerly Manager CMM with Fullerton India Credit Company Limited.
Mr. Damani holds a Post Graduate Diploma in Business Administration in finance management from Symbiosis Centre for Distance Learning, Pune and has participated in the Accelerated General Management Programme (AGMP) from Indian Institute of Management - Ahmedabad.
Shares of Spandana Sphoorty Financial Limited was last trading in BSE at Rs. 373.65 as compared to the previous close of Rs. 375.20. The total number of shares traded during the day was 36685 in over 1111 trades.
The stock hit an intraday high of Rs. 390.20 and intraday low of 371.85. The net turnover during the day was Rs. 14098471.00.