Poonawalla Fincorp CEO Vijay Deshwal steps down, to take up new role in Cyrus Poonawalla Group

7 Mar 2022 , 02:54 PM

Poonawalla Fincorp Ltd has informed that Vijay Deshwal, Chief Executive Officer (CEO) of the Company has decided to take up the strategic role within the Cyrus Poonawalla Group where he will spearhead emerging investment opportunities.

Consequently, he has stepped down as the CEO of the Company and ceases to be a Key Managerial Personnel of the Company from the close of business hours of 4 March 2022.

The Board took note of the same and recorded its appreciation for the contribution made by Deshwal during his tenure as the Chief Executive Officer of the Company.

The Company continues to be on its path to achieve its stated objectives under dynamic leadership of Abhay Bhutada, Managing Director. Abhay Bhutada will continue to be responsible for both the operational as well as strategic matters of the organisation supported with a strong management team.

At around 2:55 PM, Poonawalla Fincorp was trading at Rs221.50 apiece down by Rs9.7 or 4.2% on Sensex.