Poonawalla Fincorp top deck sees rejig, 5 seniors opt for early retirement

The NBFC has informed the exchanges that its five senior management personnel (SMP) have sought early retirement, while announcing the replacement

The brass at Poonawalla Fincorp Ltd (PFL) is going through a major rejig with five senior executives in compliance, risk management, and internal audit verticals opting for an early retirement, the Pune-based non-banking financial company (NBFC) informed the exchanges.

The move comes a month after Arvind Kapil took charge as the managing director and chief executive.

PFL’s board of directors at its meeting on July 20, 2024, considered and approved the early retirements and appointment of new persons for the position, it said in a filing to the BSE.

Manoj Gujaran, the chief compliance officer (CCO) has retired from July 20, 2024.  

The company has named Bholananda Behera as his replacement for five years.

He is expected to take up the new assignment on October 29, 2024. In the interim, Sumit Talreja, deputy CCO, will assume charge.

Anup Agarwal, the chief internal auditor also opted for early retirement, effective July 20, 2024. Nitin Sane was named Agarwal’s replacement for a five-year term.

He is expected to join on October 3, 2024.

Till Sane comes on board, Vishal Pandey, deputy vice-president, Internal Audit, will look after the vertical’s operations.

Rajendra Tathare, the chief risk officer (CRO), was the third senior official to take early retirement.

Bhaskar Pande was appointed the new CRO for five years. He is expected to join by August 30, 2024. As an interim arrangement, Mitul K Budhbhatti, head -- Credit Monitoring and Risk, will officiate the CRO’s functions.

Other key functionaries who have moved out include Manish Chaudhari, the former head of Retail Assets, and Smita Mitra, the Human Resources head.