Managing Director change: Prashant Sudhir Khairnar resigns from MD post, Gaurang Shah appointed
Leadership change at the top.
By ScoutQuest · · 2 min read
- MD resignation effective date
- 21st October, 2026
- New MD appointment term
- 5 years, subject to shareholder approval
- Incoming MD experience
- qualified Company Secretary with approximately 15 years of experience
What the Board approved
The Board of Directors, at its meeting held on Wednesday, 21st October, 2026, considered and approved two connected changes at the top of the company. The meeting commenced at 03:00 P.M. and concluded at 03:30 P.M.
- Mr. Prashant Sudhir Khairnar (DIN: 11434708) has resigned from the position of Managing Director with effect from 21st October, 2026. The reason recorded in the update is a change in professional commitments.
- Mr. Gaurang Shah (DIN: 05164763) has been appointed as an Additional Director (Managing Director) with effect from 21st October, 2026.
The outgoing Managing Director stays on the Board
- The resignation is limited to the position of Managing Director only. Mr. Khairnar shall continue as a Director of the Company, unless otherwise separately determined.
- In his resignation letter he confirmed the same: he steps down as Managing Director but remains a Director.
- His directorsorship and his exit from the executive role therefore happen together on the same date.
The incoming Managing Director
- Mr. Gaurang Shah takes over as Managing Director from 21st October, 2026.
- The term of appointment is 5 years, subject to the approval of the shareholder.
- His appointment is subject to the approval of the shareholders and such other approvals as may be required under applicable laws.
- Profile given in the update: he is a qualified Company Secretary with approximately 15 years of experience in corporate governance, corporate compliance and regulatory matters, and has worked with various companies across different industry sectors.
- The update states there is no relationship between the directors of the company, and that Mr. Gaurang Shah is not debarred from holding the office of Director by virtue of any SEBI or other authority order.
How to read this
- One individual moves from Managing Director to Director, and a new Managing Director is appointed on the same date. The number of people on the Board does not fall away on account of the resignation; the executive charge passes to Mr. Shah.
- The appointment carries a defined tenure of 5 years, and it is conditional on shareholder approval, so the shareholder resolution is the next formal step for this change to be confirmed.
- The stated experience of the incoming Managing Director is in corporate governance, compliance and regulatory matters.
What to track
- The shareholder approval for the appointment of Mr. Gaurang Shah as Managing Director.
- Any further disclosure on the composition of the Board following Mr. Khairnar continuing as a Director.
Also from Galaxy Agrico Exports
Managing Director resigns; Board approves Gaurang Shah as Additional Director (Managing Director)
21 Oct 2026
Managing Director changes: Khairnar resigns, Gaurav Shah appointed Additional Director (Managing Director)
21 Oct 2026
Board meeting on 21 October 2026 to consider MD resignation and new MD appointment
16 Oct 2026
More numbers
- Term of appointment of Mr. Gaurang Shah as Managing Director5 Years Subject to approval of shareholder
- Experience of Mr. Gaurang Shah in corporate governance and complianceapproximately 15 years
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