Changing of the Guard: Sanjay Kukreja Steps Down as CFO, TruCap Finance Plots Next Move

TruCap Finance Ltd. has announced the resignation of its Chief Financial Officer, Sanjay Kukreja, as a major development in the senior management of the company. Kukreja, who has been the CFO for almost five years, was key to shaping the company's financial strategy and corporate governance as the company went through the phase of transformation and expansion. His resignation comes when TruCap Finance is in an exciting financial services environment and driving new business opportunities.

 

Key Highlights

CFO Resignation: Sanjay Kukreja, a veteran finance professional with more than 29 years of experience, has resigned as Chief Financial Officer of TruCap Finance Ltd. He was responsible for financial planning, control, and compliance functions to the firm.

 

Leadership Experience: Kukreja had sufficient experience from previous postings with Masscorp Ltd., KPL Exports Pvt. Ltd., Rotex Wheels Pvt. Ltd., and the Welspun Group. He is also a fellow member of the Institute of Chartered Accountants of India.

 

Management Stability: Despite the exit of the CFO, TruCap's management is seasoned, with the addition of CEO Rohanjeet Juneja in 2022 and average management tenure of over three years. The board is also still led by Chairperson Rakesh Sethi, with continuity in the governance process.

 

Current Board Developments: The firm has experienced other recent board developments, such as the resignation of independent director Geetu Gidwani Verma, which reflects ongoing refreshment of leadership roles.

 

Market Context: Shares in TruCap Finance have been volatile over the last few months, in line with industry trends and investor opinion on leadership changes and business opportunities.

 

What's Next for TruCap Finance?

The company should appoint an interim or full-time CFO forthwith as it sets its sights on focusing on strengthening its balance sheet and executing its vision. The management and board of directors restated their commitment to good governance and transparency during the transition period.

 

"TruCap Finance is dedicated to its growth plan and will smoothly transition in financial leadership," the company spokesperson said. 

 

Source: MarketScreener, The Economic Times, Simply Wall St, TruCap Finance Annual Report