Ambarish Raghuvanshi, Chief Financial Officer & Whole-time Director of Info Edge is stepping down from his position at the company. Info Edge made the disclosure via a corporate announcement to the BSE. The company informed BSE that Raghuvanshi, will relinquish his position at the company in May 2014 and will continue to work in an advisory role with the company. The announcement also says that Raghuvanshi, who has been associated with the company for 14 years, will look for new career opportunities.
Chintan Thakkar will be taking over as CFO and will join the company as CFO-Designate immediately. Thakkar, was CFO-India at Computer Associates Inc. in the past and is currently an independent management consultant at New Enterprise Associates, Mumbai.
InfoEdge had reported a net profit after tax of Rs 32.21 crore for the quarter ended December 31, 2013, up from Rs 30.8 crore profit in the same quarter last year and marginally lower than the Rs 33.26 crore profit in the previous quarter (ending 30th September 2013). While releasing the results, Raghuvanshi had said that the company witnessed a weak economic environment, but delivered “solid numbers” due to the IT/Tech sector performing well, and an improved competitive position.