Gujarat Foils Ltd. has announced that the board of directors of the company at its meeting held on April 28, 2016, has approved the appointment of Mr. Satish Chandra Gupta as Additional Independent Director on the Board of the Company with effect from April 28, 2016. Mr. Jagjit Padgaonkar has resigned as Chief Financial Officer of the Company with effect from April 28, 2016. Mr. Jitendra Jain was appointed as a Chief Financial Officer of the Company and designated him as Key Managerial Personnel of the Company.