Onida Electronics Appoints Jayesh Gandhi as Independent Director; Gunjan Srivastava Becomes CEO & MD
Onida Electronics appointed Jayesh Gandhi as an Independent Director and Gunjan Srivastava as CEO & MD, effective July 04, 2026. Manish Desai joins as CFO and Whole-time Director. Shirish Suvagia resigned as CFO and Whole Time Director. The company also approved the grant of 12,50,000 employee stock options.
The appointments of key personnel like CEO, MD, and CFO can significantly impact the company's strategic direction and operational execution. The stock option grant is a positive signal for employee morale and retention.
The announcement details several key appointments and a change in designation, indicating strategic leadership adjustments. The stock option grant also suggests a focus on employee motivation and long-term commitment.
Onida Electronics Limited (formerly MIRC Electronics Limited) announced significant leadership changes following a Board of Directors meeting held on July 03, 2026. The Board approved the appointment of Mr. Jayesh Gandhi as an Additional Director (Independent Director) for a five-year term, effective July 04, 2026, subject to shareholder approval.
Furthermore, Mr. Gunjan Srivastava's role was expanded; he will now serve as Chief Executive Officer and Additional & Managing Director from July 04, 2026. Mr. Srivastava has been the CEO since February 01, 2026. Mr. Kaval Mirchandani's designation has been changed from Managing Director to Whole-time Director, also effective July 04, 2026, pending member approval.
In key financial appointments, Mr. Manish Desai has been appointed as the Chief Financial Officer and Key Managerial Personnel from July 04, 2026. He will also serve as an Additional and Whole-time Director for a three-year term, commencing the same day, subject to shareholder approval. The Board also accepted the resignation of Mr. Shirish Suvagia as Whole Time Director and Chief Financial Officer, effective July 03, 2026.
Additionally, the company approved the grant of 12,50,000 Employee Stock Options under the MIRC Electronics Employee Stock Option Plan, 2023, to eligible employees. The exercise price will be at a 30% discount to the closing share price of June 25, 2026, but not lower than the exercise price for options granted on May 20, 2026. The meeting of the Board of Directors commenced at 3:47 p.m. and concluded at 6:45 p.m.
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Onida Electronics Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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