BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
While Spandana Sphoorty Financial Ltd.'s core operating performance is showing improving trend, the series of events occurred during past two months like Managing Director and Chief Executive Officer resigning, transfer of holding company IT system to new vendor, ongoing evaluation to streamline compensation structures and Covid-19 led uncertainties, disrupted the business momentum.
However, board had proactively took two steps –
constituted a management committee (with long serving directors) to provide strategic direction and
set-up an interim management team by on-boarding two industry veterans namely Mr Nitin Agarwal – Interim CEO and Mr Amit Mittal – Interim Chief Financial Officer.
Further, Spandana Sphoorty's board has already identified suitable candidate for full-time MD and CEO post and actively the process is going on.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR