IDFC Extends MD's Term & Welcomes New CFO Bipin Gemani

18 Jul 2023 , 12:28 PM

The board of directors at Infrastructure Development Finance Company (IDFC) has approved the extension of Mahendra Shah’s term as Managing Director for another year.

The extension is set to be effective from October 01, 2023, until September 30, 2024, subject to approval by the shareholders.

Bipin Gemani has been appointed as the new Chief Financial Officer (CFO) of IDFC, with immediate effect. Gemani’s tenure as CFO will be from July 17, 2023, until September 30, 2024, subject to shareholder approval.

Bipin Gemani previously served as CFO of IDFC Bank and has over 25 years of experience in the financial services sector. Mahendra Shah, the current Managing Director, joined IDFC in 2001 and has held various roles within the organization.

The appointments are expected to contribute to IDFC’s strategic growth plans and reinforce its position in the infrastructure development domain. The board’s confidence in Shah’s leadership and the addition of Gemani’s financial expertise are seen as positive moves for the company’s future endeavors.

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