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The appointment is based on the recommendation of nomination and remuneration committee of the company’s board.
Sunil Narke has 26 years of experience within automotive sector in India and Europe. He has extensive experience across key functions including industrial/process engineering, plant operations, business development as well as technology transfer from Europe.
The firm said that Narke will be taking over from Hari Krishnan. Krishnan will be stepping down from his position as CEO - Forgings and Bill Forge Divisions effective from 31 March 2024 due to his personal reasons.
CIE Automotive is a multi-technology automotive components supplier. It is a subsidiary of the CIE Automotive group of Spain; an industrial group specialised in supplying components and sub-assemblies for the automotive market, which has presence across the globe.
The company reported 119.08% jump in consolidated net profit to Rs 375.41 crore on 2.24% rise in net sales to Rs 2,279.41 crore in Q2 FY24 over Q2 FY23.
The scrip declined 0.48% to currently trade at Rs 481.30 on the BSE.
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