Tembo Global Industries Ltd., a leading player in manufacturing and engineering solutions, has announced significant changes to its Board of Directors and leadership team following the Board meeting. Tembo has undergone a significant transformation in its leadership, with the induction of a new Board of Directors and a Chief Financial Officer, all of whom are highly experienced professionals with strong industry backgrounds. The expertise and seniority of the newly appointed team are expected to bring enhanced governance, sharper strategic direction, and improved operational efficiency. With the company’s ongoing expansion, this capable leadership is well-positioned to drive sustainable growth and unlock greater value for stakeholders in the times ahead.
Mr. Sanjay Patel, Managing Director, Tembo Global Industries Limited, commented on the change in Board and Management: “Tembo is entering a transformative phase, and these strategic appointments mark a bold step towards driving sustainable growth and governance excellence. We warmly welcome our new professional expertise Independent Directors and CFO namely, Ms. Homai A. Daruwalla, Independent Director, is a veteran banker and former ex-Chairman and Managing Director of Central Bank of India. A Chartered Accountant by qualification, Ms. Daruwalla brings over 33 years of experience across Union Bank of India, Oriental Bank of Commerce, and Central Bank of India, Mr. Ajay Madan, Independent Director, is a seasoned Chartered Accountant with over 35 years of experience in corporate audits, taxation, and debt syndication, Mr. Sumantra Sarathi Mahata, Independent Director, is an experienced Company Secretary and legal expert and is a qualified as FCS, LL.B. (Hons.), MBA in Finance, and a Diploma in Arbitration, Mr. Nikunj Barot, Independent Director, is an accomplished Chartered Accountant with more than 12 years of experience in Direct and International Taxation, GST Compliance, and Litigation and Mr. Girish Jethmalani who has been appointed as Chief Financial Officer, is professionally qualified as a Chartered Accountant and M.Com graduate and he brings over 24 years of experience in finance, auditing, budgeting, and operational excellence. This change in the Board and Management will bring significant value to our growth and expansion, leveraging a combined experience of 20 to 35 years on the board.”
Newly Appointed Directors and CFO Shared Their Thoughts:
- Ms. Homai A. Daruwalla: “It’s an honour to join the board of a dynamic organization like Tembo Global Industries. I look forward to contributing to its journey of innovation, transparency, and inclusive growth.”
- Mr. Ajay Madan: “With Tembo’s clear vision and strong fundamentals, I am excited to collaborate with the Board and management to enhance financial discipline and stakeholder value.”
- Mr. Sumantra Sarathi Mahata: “Corporate governance is key to long-term success. I am committed to supporting Tembo’s mission by reinforcing compliance and ethical practices across all levels.”
- Mr. Nikunj Barot: “Joining the Board of Tembo is an exciting opportunity. I aim to bring strategic financial insight and tax expertise to support its ambitious goals.”
- Mr. Girish Jethmalani shared: “I’m excited to join Tembo and contribute to its financial growth and operational excellence.”
To ensure shareholder participation in these developments, Tembo Global Industries has initiated a Postal Ballot process for approval of the above appointments and other key resolutions including enhanced borrowing powers, related party transactions, and the TGI ESOP Scheme 2025.
In another key development, Mr. Girish Jethmalani has been appointed as Chief Financial Officer, effective April 10, 2025. A Chartered Accountant and M.Com graduate, Mr. Jethmalani brings over 24 years of experience in finance, auditing, budgeting, and operational excellence. He has held leadership positions at companies such as Indef Manufacturing Ltd., Hercules Hoists Ltd., Sterling Biotech Ltd., Aneja Associates, and Ambalal Thakkar & Associates. Known for implementing systems that drive financial discipline and business expansion, he is poised to play a pivotal role in supporting Tembo’s continued growth.