Redington’s Managing Director Rajiv Srivastava has resigned from the company citing personal reasons. The resignation has been accepted with immediate effect, the company said in a communication to the stock exchanges.

He has been associated with the company as the Joint Managing Director since April 2, 2021 and as the Managing Director from April 1, 2022.

The Board will initiate the search for a new Managing Director for the company and plans to fill the vacancy at the earliest and well within the timelines under applicable regulatory framework. In the interim, the Board along with company’s top executives, including SV Krishnan, Whole-time Director and Global CFO of the company, will continue to drive the company forward, the communication said.

The company’s share price closed at ₹151.95, down 1.81 per cent, on the NSE.