Mahindra Group Sees Top-Level Rejig After Holidays Unit CFO Resigns

Mahindra Group has appointed Chief Financial Officer Manoj Bhat as the chief executive of Mahindra Holidays Resorts India Ltd., after Kavinder Singh resigned from the post.

Consequently, Bhat will cease to be the Group CFO. Amarjyoti Barua, executive vice president for strategy, will now lead Mahindra Group’s finance organisation.

The changes are effective May 16.

“We truly appreciate Kavinder’s contribution to Mahindra Holidays and Mahindra Group and wish him the very best for the journey ahead,” Anish Shah, group chief executive officer at Mahindra & Mahindra Ltd., said in a statement. “Manoj brings a unique combination of leadership experiences, value creation skills and customer-first approach, which aligns well with the Mahindra Group’s Rise philosophy. We look forward to Mahindra Holiday’s next phase of growth under his leadership.”

As part of the rejig, there are more planned rotations of key finance personnel. Effective May 1, 2024:

• Mahindra Lifespaces CFO Vimal Agarwal will take charge as Mahindra Holidays CFO.

• Mahindra Susten CFO Avinash Bapat will take charge as Mahindra Lifespaces CFO.

Singh’s resignation draws the curtains on his decade-long association with Mahindra Group. He had joined as Mahindra Holidays CEO and a member of the group executive board. 

Bhat, meanwhile, moved to M&M in April 2021 from Tech Mahindra Ltd., where he was the CFO since 2018. As Group CFO, he led the company’s finance leadership team, coordinating with his peers at group firms on governance, controllership and capital allocation.

At Tech Mahindra, he was instrumental in shaping the company since inception—from the acquisition and integration of Satyam Computer Services Ltd. to the initial public offering of Tech Mahindra in 2006.