Amit Paithankar, the CEO of Waaree Energies, India's largest ALMM-approved solar manufacturer, has announced his resignation on Monday, as per a stock exchange filing by the company.
The company's board has accepted Paithankar's resignation and he will be relieved of his duties from 15 May, 2026, or an earlier date which may be mutually agreed upon, as per the company's exchange filing.
Paithankar was serving as the company's whole-time director and chief executive officer.
He will be replaced by Jignesh Rathod, who has been appointed as the CEO-designate. Rathod was earlier working as the Director - Operations for the company.
Who is Amit Paithankar?
Paithankar joined Waaree in November 2024, and his duration as CEO lasted for a few days more than a year. While announcing his appointment, the company had said in a statement, “Dr. Amit Paithankar is the Chief Executive Officer (“CEO”) at Waaree Energies Limited. An industry veteran with over 25 years of experience in Engineering, R&D, Manufacturing, IT, and General Management, he has operated across diverse geographical locations over the course of his distinguished career, including India, Asia Pacific, EU, and the US.”
The company's board also thanked Paithankar for his services, saying in the exchange filing, "The Board placed on record its deep appreciation for Mr. Paithankar’s leadership, commitment, and valuable contributions during his tenure, during which the Company strengthened its operational capabilities, expanded its footprint, and built a robust foundation for long-term growth. "
Next venture: In his resignation letter sent to the Company Secretary, Paithankar revealed that he is resigning from his position to join a company called Saarv Solutions Private Limited as a cofounder.
Jignesh Rathod -- All about Paithankar's successor
Jignesh Rathod, who has been appointed as the Chief Executive Officer - Designate, took office from Monday, and will take over the role of the CEO after Paithankar relieves his position on 15 May, 2026.
As per the company, Rathod holds a Bachelor’s degree in Engineering from Gujarat University, a Master’s degree in Business Administration for Working Executives from NMIMS, Mumbai, and a Doctorate in Business Administration from XIBMS.
He has been working with the company from 2007 and “brings over 18 years of extensive experience across manufacturing operations, capacity expansion, process optimisation, technology integration, and large-scale execution.”
