Ami Organics appoints Bhavin Shah as Chief Financial Officer; Stocks surges over 1%

23 May 2022 , 11:05 AM

Ami Organics Limited has announced the appointment of Bhavin N. Shah as Chief Financial Officer of Company, effective June 01, 2022. Bhavin will take charge from serving CFO Abhishek Patel who will move on to take over his family business after a tenure of 4 years at AMI Organics. Bhavin N. Shah joined AMI Organics in March 2022 as Deputy Chief Financial Officer.

Bhavin, a qualified Chartered Accountant, brings more than 18 years of expertise in consulting, corporate accounts, and finance. Prior to joining AMI Organics, Bhavin was the Deputy General Manager in Sun Pharma Advanced Research Co. Ltd. (SPARC) where he was responsible for leading Accounts, Finance, Taxation, Banking Relations, and Fundraising. He has also led the finance team at Unimark Remedies and worked as a consultant with Deloitte Haskins & Sells.

Commenting on the development, Mr. Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said: “For the last four years, Abhishek has been an integral part of AMI Organics and was responsible for effectively leading the finance function with his acumen and expertise. On behalf of the board, I thank him for his invaluable contribution to the organisation and wish him all the success in his next assignment.

I would also like to congratulate and welcome Bhavin as he steps up in the role of Chief Financial Officer. Bhavin who recently came on board as a Deputy Chief Financial Officer, brings rich experience across various finance functions. I am sure he will add value to the organisation and help spearhead growth in the coming years.”

Commenting on the development, Abhishek Patel, said: “I would like to express my gratitude to Naresh Patel for the trust he has shown in my capabilities and in allowing me to independently lead the finance function for AMI Organics. It has been an honour to work under his leadership and he has been a source of tremendous learning and motivation.”

Commenting on his appointment, Bhavin Shah, said: “I am extremely humbled to step up in the role of the CFO and lead the function under the guidance of Naresh Patel. He and Abhishek Patel have built a strong team at AMI and I am excited at the opportunity to add value as we remain steadfast in our mission to grow the organisation from strength to strength.”

At around 10:48 AM, Ami Organics was trading at Rs948.95 apiece down by Rs10.7 or 1.11% on the BSE.