Mahindra Holidays & Resorts India Ltd announced key leadership successions on its third quarter earnings day. The company confirmed the appointment of Manoj Bhat, currently the Mahindra Group Chief Financial Officer, as the MD & CEO of MHRIL effective 17th May 2024, consequent to Kavinder Singh’s decision to take on the next challenge in his professional journey.
Manoj Bhat, President & Group Chief Financial Officer, moved to M&M Ltd in April 2021 from Tech Mahindra, where he was the CFO since 2018. As the Group CFO, Manoj capably 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. “He has played a key role in Tech Mahindra’s organic and inorganic growth initiatives including being a part of the acquisition and integration of Satyam and the initial public offering of Tech Mahindra in 2006,” it said in a statement.
Kavinder Singh joined the Mahindra Group in 2014 as Managing Director and CEO of Mahindra Holidays & Resorts India Limited (MHRIL) and a member of the Group Executive Board. During his tenure, his focus was towards making MHRIL a world-class vacation ownership company, with a view to create differentiated experiences for Club Mahindra members.
CP Gurnani, Chairman of Mahindra Holidays & Resorts India Ltd, said, “MHRIL has achieved significant milestones of 100+ resorts, 5000+ Keys and USD 1 billion market capitalisation under Kavinder’s leadership spanning more than nine years. On behalf of the MHRIL board, I would like to thank him for building a strong culture of delivering world class customer experiences. I wish him the best in the new phase of his professional journey. I welcome Manoj and am confident that he will lead MHRIL to new heights.”
Kavinder Singh said, “It has been a privilege to lead MHRIL and build a world class Vacation Ownership company with 2.9 lakh plus member families, backed by a great team. I sincerely thank the MHRIL Board, Chairman CP Gurnani and the Mahindra Group leadership, Group CEO & MD Dr Anish Shah and Chairman Anand Mahindra for their encouragement and support. I wish Manoj Bhat continued success and look forward to my next professional challenge.”
Manoj Bhat said, “It is an honour and privilege to have the opportunity to lead MHRIL in its next phase of growth. I am thankful to the Board for the confidence that they have reposed in me. I look forward to working with the team to create sustainable, long-term value.”
The company also announced the appointment of Vimal Agarwal as the Chief Financial Officer and Key Managerial Personnel with effect from 1st May, 2024. This is following the cessation of office of Ram Mundra as the interim chief financial officer and key managerial personnel of the company with effect from the close of 30th April, 2024. Ram Mundra will continue to serve the company and shall assist Vimal Agarwal during his transition.