Astec LifeSciences Limited at its board meeting held on May 2, 2023, announced The Board has noted the resignation of Mr. Madhur Gundecha from the position of Chief Financial Officer of the Company with effect from the close of business hours on May 2, 2023. The Board of Directors of the Company, based on the recommendation of the Nomination and Remuneration Committee, has appointed Mr. K. Suryanarayan as the Chief Financial Officer of the Company with effect from May 3, 2023. Mr. K. Suryanarayan is a Chartered Accountant by profession.

He has over two decades of leadership experience as an innovative strategic planner in finance diligence and deep-domain expertise across a spectrum of activities that includes P&L management, structuring, financial modelling, valuation, deal financing, financial controls, and commercial decision- making in manufacturing, sales & distribution to drive cost reductions and an increase in capital productivity. He started his career with RPG Life Sciences as an Audit Manager in 1996 and moved to head the Finance function for the Agro Chemical division before parting with them in 2001. He joined Godrej Consumer Products Limited (GCPL) thereon, to head the Western region Commercial and Logistics.

He was the CFO & member of the Leadership team, responsible for managing the finance, audit, taxation, planning & compliance for the Africa business. He joined CEAT Ltd. in July 2020, to head the Business Partnering function. He worked closely with the Manufacturing & Commercial Finance teams to improve productivity and increase margins.

He also worked with Parag Milk Foods Limited as CFO for short period before joining Astec LifeSciences Limited.