Ambuja Cements appoints Suresh Joshi as CFO

Ambuja Cements today said it has appointed Suresh Joshi as its Chief Financial Officer (CFO) with effect from February next year.
In a BSE filing, the firm said its Board of Directors in a meeting held today approved the appointment of Suresh Joshi as "...The company's CFO and key managerial personnel with effect from February 1, 2016."
In October the cement maker, in which Swiss building materials major Holcim has a majority stake, had said its CFO Sanjeev Churiwala has resigned and the Board has accepted his resignation with effect from November 16, 2015.
The company had started looking for a suitable successor and its Joint President Corporate Controlling Sanjay Khajanchi was serving as the Interim CFO.

The filing further said: "Christof Haessig has been appointed as the Additional Director (Non independent - representing the Promoter Group) on the Board of Directors of the company with effect from December 9, 2015."
Haessig, at present, is the Head of Corporate Strategy and Mergers & Acquisitions at LafargeHolcim Ltd.

Ambuja Cements reported a 36 per cent decline in its standalone net profit at Rs 153.57 crore for the third quarter ended September 30, 2015, against a net profit of Rs 239.06 crore in the year-ago period.
Its total standalone income firm fell by 4 per cent to Rs 2,110.87 crore in July-September quarter of this fiscal from Rs 2,202.06 crore in the same quarter of 2014 fiscal.

The company follows January-December as fiscal year.
Shares of the company today fell by 2.55 per cent to settle at Rs 189.50 apiece on the BSE.