Onida appoints Gunjan Srivastava CEO and MD in major leadership reshuffle

Onida Electronics Ltd has announced a sweeping leadership reshuffle, appointing Gunjan Srivastava as Chief Executive Officer and Additional Managing Director, while naming Manish Desai as the company's new Chief Financial Officer. The changes are part of a wider restructuring that also includes board-level appointments and executive role transitions.

The appointments, approved by the board and effective 4 July 2026, are subject to shareholder approval where applicable.

The leadership changes come as the consumer electronics company realigns its executive team, with a new finance chief taking charge and a long-serving executive stepping down to pursue a sabbatical.

CEO takes on expanded mandate

The board approved the appointment of Gunjan Srivastava as Chief Executive Officer and Additional Managing Director with effect from 4 July 2026.

Srivastava has served as Chief Executive Officer since 1 February 2026 and will continue in that capacity while assuming the additional responsibilities of Managing Director, subject to shareholders' approval.

His elevation expands his operational responsibilities just months after taking over the company's top executive role.

Manish Desai appointed CFO

Alongside the CEO appointment, the board named Manish Desai as Chief Financial Officer and Key Managerial Personnel, effective 4 July.

Desai has also been appointed:

• Additional Director
• Whole-time Director for a three-year term

Both appointments remain subject to shareholder approval.

His appointment follows the resignation of the company's previous finance chief and forms a key part of the leadership transition.

Board announces wider leadership changes

The restructuring extends beyond the CEO and CFO positions.

Kaval Mirchandani, who has been serving as Managing Director, will transition to the role of Whole-time Director from 4 July, while continuing for the remainder of his existing tenure. The change will also require shareholder approval.

The board has also appointed Jayesh Gandhi as an Additional Independent Director for a five-year consecutive term, effective 4 July, subject to shareholders' approval.

According to the company, Gandhi is a Fellow Chartered Accountant with more than 40 years of experience across:

• Audit
• Financial advisory
• Corporate governance
• Consultancy

His appointment adds additional governance and financial expertise to the board.

CFO steps down after choosing a sabbatical

The company also formally acknowledged the resignation of Shirish Suvagia as Whole-time Director and Chief Financial Officer, effective at the close of business on 3 July 2026.

The board placed on record its appreciation for Suvagia's contribution during his tenure and noted that he had confirmed there were no material reasons for his resignation other than those stated in his resignation letter.

In his letter, Suvagia said he had decided to take a sabbatical to focus on personal learning, professional development and exploring new opportunities.

He wrote that, after careful consideration, he had chosen to step away to pursue "personal learning, professional development, and explore new opportunities of interest."

Leadership transition reflects broader organisational changes

The latest announcements represent one of the most comprehensive changes to Onida's senior leadership in recent years.

The board approved:

• The elevation of Gunjan Srivastava as CEO and Additional Managing Director
• The appointment of Manish Desai as Chief Financial Officer, Additional Director and Whole-time Director
• The transition of Kaval Mirchandani from Managing Director to Whole-time Director
• The appointment of Jayesh Gandhi as Additional Independent Director
• The acceptance of Shirish Suvagia's resignation as Whole-time Director and CFO

Together, the appointments reshape both the executive leadership team and the board, with new responsibilities distributed across key management positions.