Poonawalla Fincorp Top Deck Sees Rejig, 5 Seniors Opt For Early Retirement
This restructuring follows the recent appointment of Arvind Kapil as managing director and chief executive, who took charge a month ago
Pune-based non-banking financial company Poonawalla Fincorp (PFL) is undergoing significant changes in its senior management. Five senior executives from the compliance, risk management, and internal audit verticals have opted for early retirement, the company informed the exchanges.
This restructuring follows the recent appointment of Arvind Kapil as managing director and chief executive, who took charge a month ago. PFL's board of directors approved the early retirements and the appointment of new executives during its meeting on 20 July, 2024.
Manoj Gujaran, the chief compliance officer (CCO), retired on 20 July, 2024. Bholananda Behera has been appointed as his replacement for a five-year term, starting 29 October, 2024. Until Behera's tenure begins, Sumit Talreja, deputy CCO, will assume the role.
Anup Agarwal, the chief internal auditor, also took early retirement, effective 20 July, 2024. Nitin Sane will replace him for a five-year term, beginning 3 October 2024. Vishal Pandey, deputy vice-president of Internal Audit, will oversee operations in the interim.
Rajendra Tathare, the chief risk officer (CRO), was the third senior official to retire early. Bhaskar Pande has been appointed as the new CRO for a five-year term, starting 30 August, 2024. Mitul K. Budhbhatti, head of Credit Monitoring and Risk, will act as interim CRO.
Other key departures include Manish Chaudhari, the former head of Retail Assets, and Smita Mitra, the Human Resources head.
These changes mark a significant shift in PFL’s top management, aligning with the company's strategic vision under its new leadership.
