Jubilant Foodworks stock hits 52-week low as CEO Pratik Pota resigns

14 Mar 2022 , 11:07 AM

Jubilant Foodworks Ltd stock hits 52-week low at Rs2,444 per piece on Sensex as the industry informed that the Board of Directors of the Company in their meeting held on Friday, March 11, 2022 has accepted the resignation of Pratik Rashmikant Pota as the CEO and Wholetime Director of the Company as he wishes to pursue opportunities outside Jubilant FoodWorks Limited. Director Pota will continue in his current role till Wednesday, June 15, 2022.

As per regulatory filing, the Board places on record its sincere appreciation for the outstanding contribution made by Director Pota during his tenure with the Company and wishes him the very best in his future endeavors. The Board has also initiated the process of identifying his successor.

Notably, resignation will take effect from the close of business hours on Wednesday, June 15, 2022.

At around 11:09 AM, Jubilant Foodworks was trading at Rs2,540.10 apiece down by Rs324 or 11.31% against its previous closing of Rs2,864.10 apiece on the BSE.