Mahindra Holidays & Resorts India Ltd (MHRIL) has announced the appointment of Mr. Manoj Bhat as its new Managing Director and Chief Executive Officer, effective May 17, 2024. Bhat, who currently serves as the Group Chief Financial Officer at Mahindra Group, will succeed Mr. Kavinder Singh, who has decided to pursue new professional opportunities.
Mr. Manoj Bhat, who joined Mahindra Group in 2006, has a distinguished career marked by leadership roles in corporate planning, mergers and acquisitions, and financial management. He previously served as CFO of Tech Mahindra and was promoted to Group CFO of Mahindra & Mahindra Ltd in April 2021. Bhat’s academic credentials include a degree in Electrical Engineering from the University of Mumbai, and he is an alumnus of both the Indian Institute of Technology, Bombay, and the Indian Institute of Management, Bangalore.
He began his long association with the Mahindra Group in 2006 as the Vice President of Corporate Planning, Deal Structuring, M&A, and Investor Relations. He was later elevated to various positions, including Head of M&A and Corporate Planning, Deputy CFO, and, in June 2018, Chief Financial Officer of Tech Mahindra. In April 2021, he was promoted to Group Chief Financial Officer of the Mahindra Group.
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.”
Bhat’s appointment comes after a series of significant achievements within the Mahindra Group, including leading Tech Mahindra’s acquisition and integration of Satyam and its IPO in 2006. His experience and visionary leadership are expected to drive MHRIL’s growth and enhance its market presence.
Mr Kavinder Singh, who joined MHRIL in 2014, has been instrumental in transforming the company into a leading vacation ownership enterprise with over 2.9 lakh member families. Under his leadership, MHRIL expanded to over 100 resorts and achieved a market capitalization of USD 1 billion. Singh expressed his gratitude to the MHRIL Board and Mahindra Group leadership for their support and conveyed his best wishes to Bhat for future success.
Mr 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 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.”
Mr. CP Gurnani, Chairman of Mahindra Holidays & Resorts India Ltd, acknowledged Singh’s contributions and welcomed Bhat to his new role, expressing confidence in his ability to lead MHRIL to new heights.
In addition to Bhat’s appointment, MHRIL announced that Vimal Agarwal will assume the role of Chief Financial Officer and Key Managerial Personnel effective May 1, 2024. This follows the conclusion of Ram Mundra’s tenure as interim CFO on April 30, 2024. Mundra will remain with the company to assist in Agarwal’s transition.
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