The board of CG Power and Industrial Solutions has sacked the firm’s CFO V.R. Venkatesh over alleged “misconduct” and breach of trust. This comes after the company removed founder Gautam Thapar as chairman on Thursday.
In an announcement to the bourses late on Friday, the company said its board has “terminated the employment of V.R. Venkatesh as the chief financial officer of the company with immediate effect’’.
The company added that Venkatesh’s exit is because of the “grave nature of the misconduct and breach of trust on his part and having knowingly undertaken actions which were detrimental to the interests of the company and its stakeholders’’.
