Alicon Castalloy Ltd., an automotive components manufacturer, announced on September 5, 2025, that its Board of Directors has approved the appointment of Sumit Bhatnagar as Chief Executive Officer-Designate, effective September 22, 2025. The decision follows recommendations from the company's Nomination and Remuneration Committee.
Bhatnagar will succeed current CEO Rajeev Sikand, who is scheduled to superannuate at the close of business on March 31, 2026. The transition represents a planned leadership succession for the Pune-based company, which trades on both the Bombay Stock Exchange and National Stock Exchange of India.
In a separate appointment, the Board also approved Ashish Srivastava as Chief Human Resource Officer, effective September 25, 2025. Both appointments were communicated to the stock exchanges in compliance with SEBI listing regulations.
Bhatnagar brings over 26 years of experience in the automotive industry across multiple domains including business development, operations, technology transfer, supply chain management, and human resources.
He currently serves as Group President of ANAND, a position he has held since January 2017, and as Managing Director of ANEVOLVE since January 2022.
Prior to his current roles, Bhatnagar worked as Senior Vice President and Chief Operating Officer at Gabriel India Limited from June 2011 to December 2017. He holds a Bachelor of Engineering degree in Production Engineering from Jawaharlal Nehru Engineering College, Aurangabad, and completed his Post Graduate Diploma in Business Management with specialization in Finance and Strategy from the Indian Institute of Management, Kozhikode in 2011.
Alicon Castalloy, established in 1990, specializes in aluminum die casting and machining for the automotive sector. The company is headquartered in Shikrapur, Pune, and operates under the leadership of Managing Director S. Rai.
The regulatory filing confirms that Bhatnagar holds no shares in the company and has no familial relationships with existing board members.
The outgoing CEO Rajeev Sikand currently holds 508,638 shares in the company. His departure marks the end of his tenure as the company transitions to new leadership ahead of the next fiscal year.