ADC India CFO Rakesh Bhanushali Resigns

ADC India Communications Ltd. said its Chief Financial Officer Rakesh Kishore Bhanushali resigned, and its board appointed Anandu Vithal Nayak as CFO of the company.

The resignation is effective from close of business hours on 16 June, the Indian network infrastructure products and services said in a stock exchange announcement. It didn’t disclose the reasons for the resignation.

The company said its board approved the appointment of Bhanushali as an additional director (non-executive and non-independent) with effect from 17 June.

ADC said its board appointed Nayak, a chartered accountant, as CFO, effective 17 June.

Nayak, 47 years, has over 20 years of experience in the domains of financial reporting, internal financial controls, internal audit, corporate taxation, international taxation, transfer pricing, indirect taxation and merger & acquisitions, it said.

The company said Nayak has previously worked with Wipro Infrastructure Engineering Ltd., Himatsingka Seide Ltd., VS Dempo Holdings Private Ltd., Zuari Agro Chemicals Ltd. and CommScope.

Bengaluru-based ADC has manufacturing facility at Peenya Industrial Area, and the company offers the full range of copper and fibre portfolios to its customers in the Indian subcontinent, according to its website.

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