Arvind Kapil Takes Over as Poonawalla Fincorp CEO

Poonawala Fincorpa leading Non-Banking Financial Company (NBFC)has appointed Arvind Kapil like it’s new Managing Director and Chief Executive Officer, He will replace the current MD and CEO Abhay Bhootadawho is taking early retirement,

Kapil has over 26 years of experience

In his new role, Arvind Kapil brings with him 26 years of experience In banking sector. He is currently employed as Country Head of Mortgage at HDFC BankWhere he has been associated since 1998 and has held various key positions.

Kapil has completed Advanced Management Program Harvard Business School and IIM BangaloreWith Post Graduate Degree in Management and Engineering.

Five-year term starting from June 2024

Kapil’s appointment as Additional Director in the capacity of MD and CEO is effective for a period Five years from June 24, 2024, This is based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval.

promoting change and development

Welcoming Kapil, Adar PoonawalaPoonawala Fincorp chairman said he will lead the transformation of the company and take it to the “next level of growth”.

Poonawala praised Kapil’s reputation for leadership digital lending innovation And his integral role in the growth journey of HDFC Bank over 25 years.

Bhutada’s change in group role

The company also announced Abhay Bhutada’s early retirement As MD & CEO, effective June 23, 2024. However, Bhutada will remain in a position Non-Executive Director Poonawala on Fincorp board.

Bhutada has been credited with successfully turning around the company since its acquisition in 2021. He will now take up a charge Strategic and bigger role in Cyrus Poonawalla GroupManaging your strategy, investments and finances.

With Kapil’s extensive experience and the continued involvement of Bhutada, Poonawala Fincorp aims to further strengthen its position in the NBFC sector while driving innovation and growth.

Arvind Kapil takes over as CEO of Poonawala Fincorp_40.1

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