Gujarat Foils Ltd. announced that the Board of Directors of the company at its meeting held on August 12, 2014, announced that the company changed designation of Mr. Abhay Lodha from Managing Director to Non-Executive Director on the Board with effect from August 01, 2014. The company also appointed Mr. Jagjit Padgaonkar as Chief Financial Officer (CFO) of the company with effect from August 01, 2014.