Sula announces resignation of COO, Elevation of Chief Winemaker to COO

Sula Vineyards Limited, India's largest and only listed wine producer, with over 50 per cent share in the domestic wine market, today announced that it has taken on record the resignation of its COO, Chaitanya Rathi, who will be moving on to explore opportunities outside of the company.

Commenting on this, Rajeev Samant, Founder and CEO of Sula Vineyards, said, "Chaitanya has been an integral part of our leadership team and has positively contributed to the growth and success of the company. He has worked closely with me over the years and together we have achieved several milestones, including taking the company public last year. I am grateful for his contribution and wish him all the success in his future endeavours."

He added, "Chaitanya will be serving his notice, and his last working day will be 30th Sept '23, which gives us enough time to ensure a smooth transition.

"I am pleased to announce that our Chief Winemaker Karan Vasani, who has been a key member of the Sula leadership team, will be taking over as COO from Chaitanya. Karan already oversees some of the company's key operations including winemaking, winery operations and viticulture. During his winemaking tenure Sula has made striking progress in our manufacturing operations and winemaking quality. Prior to joining Sula Karan honed his financial skills as an analyst at a leading financial services firm. I believe Karan is exactly the right person to take forward the great work that Chaitanya has done without missing a heartbeat."

Chaitanya commented, "I am sincerely grateful for the opportunity to be part of Sula's continued success and would personally like to thank Rajeev, the Board of Directors, our Employees, and Investors, all of whom I have had a chance to work with and learn from over the years. It has been a rewarding journey and am proud of what we have accomplished together. I now look forward to new opportunities to successfully lead businesses in the future."

Shares of Sula Vineyards Limited was last trading in BSE at Rs. 445.70 as compared to the previous close of Rs. 459.75. The total number of shares traded during the day was 71316 in over 3030 trades.

The stock hit an intraday high of Rs. 468.00 and intraday low of 442.75. The net turnover during the day was Rs. 32548292.00.

Source : Equity Bulls

Keywords

SulaVineyards INE142Q01026 Breweries Distilleries Resignation COO