Pune: Finolex Industries Limited has announced the appointment of Saurabh Dhanorkar as its Managing Director for a two-year term. The decision, approved by the Board of Directors in a meeting follows the recommendation of the Nomination & Remuneration Committee. In this capacity, he will be responsible for PVC marketing and other commercial activities.
Dhanorkar, a seasoned Chartered Accountant, has a long-standing association with Finolex. After a brief stint with an international accounting firm and an agro-based public limited company, he joined Finolex Industries Ltd as Head of Finance in the year 1983. Dhanorkar has been the Whole-time Director at Finolex Industries Ltd. since December 1996. He served as Managing Director until his retirement in 2016 and has been a Non-Executive Director for the last eight years. During his tenure, he played a pivotal role in the company’s transformation from a Rs. 2 crore pipe manufacturer to a multi-location petrochemicals and plastics giant.
Executive Chairman Prakash Chhabria expressed confidence in Dhanorkar’s leadership, highlighting his extensive expertise in finance, strategy, marketing, and general management. Chhabria lauded Dhanorkar’s client-focused approach and growth-oriented mindset, emphasizing his alignment with Finolex’s values. Chhabria anticipates a new phase of growth and profitability under Dhanorkar’s stewardship.
Dhanorkar succeeds Ajit Venkataraman, who stepped down as Managing Director on November 20, 2024. This leadership transition underscores Finolex’s strategic intent to drive long-term growth and maintain its leadership in the industry.
Necessary regulatory disclosures related to Dhanorkar’s appointment have been filed with stock exchanges, marking a significant milestone in Finolex’s journey toward achieving new benchmarks in its operations and market presence.
