Finolex Industries Limited has announced the appointment of Saurabh Dhanorkar as Managing Director for a two-year term, starting November 21, 2024. This decision was approved by the Board of Directors in their meeting on October 24, 2024, following a recommendation by the Nomination & Remuneration Committee. Necessary disclosures have been filed with the stock exchanges.
Dhanorkar’s association with Finolex Industries spans over four decades. He joined the company in 1983 and served in various leadership roles, including as Managing Director until 2012. A Chartered Accountant by qualification, he was instrumental in transforming the company from a ₹2 crore pipes manufacturer into a multi-location leader in petrochemicals and plastics processing. After retiring as Managing Director in 2016, Dhanorkar continued to contribute as a Non-Executive Director for eight years.
Executive Chairman Prakash Chhabria lauded Dhanorkar’s extensive expertise in accounting, finance, strategy, marketing, and general management, emphasizing his client-focused approach and growth-oriented mindset. “We are confident that under his leadership, Finolex Industries will reach new heights of growth and profitability while upholding its core values,” Chhabria stated.
This leadership transition comes as Ajit Venkataraman steps down from the role of Managing Director at the close of business on November 20, 2024. The company anticipates setting new benchmarks with Dhanorkar at the helm, leading Finolex Industries into its next chapter of success.
