Overview

• The board approved the appointment on September 8 and disclosed the decision in a regulatory filing and press statement.
• Acting CEO Vikram Kasbekar has relinquished the interim post and will remain Executive Director and chief technology officer, working with Chitale on the transition.
• Shares rose in Monday trading, climbing nearly 3% intraday to Rs 5,524 before settling near a 2% gain, reflecting investor approval.
• Chitale most recently led Signify’s €4 billion Professional Business, overseeing 12,000 employees in 70 countries, where profitability doubled under his leadership.
• The leadership change follows Niranjan Gupta’s resignation earlier this year, with Chairman Pawan Munjal highlighting plans to drive premiumization, digitalization and sustainability.