Mahindra Group announces key leadership changes, appoints Amarjyoti Barua as new CFO

Anish Shah, group CEO and managing director (MD), M&M said that talent development is a key priority at the Mahindra Group

The Mahindra Group on February 2 unveiled significant changes across its various businesses. Amarjyoti Barua, currently serving as the executive vice president in charge of group strategy, is set to take on the role of the group chief financial officer (CFO) for the Mahindra Group. This transition is scheduled to take place on May 17, 2024.

Additionally, the conglomerate announced that Manoj Bhat, currently the CFO of the group, will assume the role of Managing Director (MD) and Chief Executive Officer (CEO) at Mahindra Holidays Resorts India Limited (MHRIL).

Bhat is scheduled to take on the new role starting from May 17, 2024. This change in leadership follows the decision of the current executive, Kavinder Singh, to pursue a new professional challenge, effective May 16, 2024.

Furthermore, Vimal Agarwal, the current CFO of Mahindra Lifespaces Developers Ltd (MLDL) will move as CFO for MHRIL and will be succeeded by Avinash Bapat as CFO of Mahindra Lifespaces Developers Ltd  (MLDL). Agarwal will take on the new role from May 1, 2024.

Reacting to the developments, Anish Shah, group CEO and managing director (MD), M&M said that talent development is a key priority at the Mahindra Group, which has enabled them to attract and retain top talent.

"We truly appreciate Kavinder’s contribution to MHRIL and the Mahindra Group and wish him the very best for the journey ahead. 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 MHRIL’s next phase of growth under his leadership," he said.

Singh joined the Mahindra Group in 2014 as MD and CEO of MHRIL and a member of the group executive board. During his journey, his focus was towards making MHRIL a world-class vacation ownership company, with a view to create differentiated experiences for Club Mahindra members.

Bhat had moved to M&M in April 2021 from Tech Mahindra, where he was the CFO since 2018. As the Group CFO, Bhat led the group’s finance leadership team, working closely with the CFOs of group companies focusing on the governance, controllership, and capital allocation discipline across the group.

Barua joined the Mahindra Group in May 2023. Prior to joining the firm, he was with Baker Hughes for more than six years.