Business

Mahindra & Mahindra appoints Manoj Bhat as Group CFO

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Mahindra & Mahindra Ltd on Friday announced the appointment of Manoj Bhat as the Group Chief Financial Officer with effect from April 2, 2021.

His appointment comes in the backdrop of the current Deputy Managing Director and Group CFO of the Mahindra Group, Anish Shah slated to take over as Managing Director and Chief Executive Officer from April 2, 2021, replacing the incumbent Pawan Goenka who will retire.

Bhat, who moves to the Mahindra Group from Tech Mahindra where he has been the CFO since June 2018, will report to Shah and will be a part of the Group Corporate Office Leadership Team, M&M said in a statement.

He will lead the group’s finance organisation working closely with the group companies’ finance leadership teams on strategy, governance and controllership; providing leadership on all aspects related to financial planning and analysis, financial reporting, business planning, tax management, fundraising and treasury operations, it added.

Commenting on the appointment, Shah said: “Manoj is a proven global CFO with a track record of delivering results and creating value. He brings a compelling blend of strategic and capital allocation discipline, well-honed operating skills, and transformational leadership abilities. He will be a strong partner as we execute our transformational plan and improve our operating results to position Mahindra for sustainable, long-term value creation.”

As Tech Mahindra Chief Financial Officer, Bhat has been responsible for the finance and secretarial functions across 160 subsidiaries and over 90 countries. He has been associated with Tech Mahindra since 2006 and has held multiple positions with global responsibilities for Business Finance, Investor Relations, Corporate Planning, and Mergers and Acquisitions, the statement said.

Bhat has also played a key role in Tech Mahindra’s organic and non-organic growth initiatives, including being a part of the acquisition and integration of Mahindra Satyam and the initial public offering of Tech Mahindra in 2006.

Before joining Tech Mahindra, he was with Perot Systems and HCL Perot Systems in various leadership roles. He holds a bachelor’s degree in Electrical Engineering from IIT, Mumbai and a postgraduate diploma in management (PGDM) from IIM, Bangalore.

This story has been published from a wire agency feed without modifications to the text.

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