Onida Electronics Appoints New Independent Director, CEO & MD, CFO; Changes Kaval Mirchandani's Role
Onida Electronics appointed Mr. Jayesh Gandhi as Additional Independent Director and Mr. Gunjan Srivastava as CEO & Additional MD, effective July 4, 2026. Mr. Kaval Mirchandani's role changed to Whole-time Director, and Mr. Manish Desai was appointed CFO and Whole-time Director. The company also approved granting 12,50,000 employee stock options.
Significant changes in key leadership positions, including the appointment of a new CEO & MD and CFO, can have a medium-term impact on the company's strategic direction and operational execution. The appointment of an independent director also strengthens corporate governance.
The announcement details routine board and management changes, including appointments and resignations, along with an employee stock option grant. These are standard corporate governance activities and do not inherently signal a positive or negative shift in the company's performance or outlook.
Onida Electronics Limited (formerly MIRC Electronics Limited) announced significant board and management changes following its Board of Directors meeting held on July 3, 2026. The board approved the appointment of Mr. Jayesh Gandhi as an Additional Director (Independent Director) for a five-year term, effective July 4, 2026, subject to shareholder approval.
Furthermore, Mr. Gunjan Srivastava's role has been elevated; he will be appointed as the Chief Executive Officer and Additional & Managing Director, effective July 4, 2026. Mr. Srivastava has been serving as the CEO since February 1, 2026. Concurrently, Mr. Kaval Mirchandani's designation has been changed from Managing Director to Whole-time Director, also effective July 4, 2026.
In financial leadership, Mr. Manish Desai has been appointed as the Chief Financial Officer and Key Managerial Personnel, effective July 4, 2026. He will also serve as an Additional and Whole-time Director for a three-year term starting July 4, 2026, subject to member approval. The company also noted the resignation of Mr. Shirish Suvagia from the positions of Whole Time Director and Chief Financial Officer, effective July 3, 2026.
Additionally, the Board approved the grant of 12,50,000 Employee Stock Options to eligible employees under the MIRC Electronics Employee Stock Option Plan, 2023. The meeting 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 board meeting. 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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See the model portfoliosA plain-language summary of a public exchange filing by Onida Electronics Limited. Read the original for the full detail.