Mahindra Group elevates internal talent Amarjyoti Barua as Group CFO to fuel next phase of growth

03 Feb, 2024

Mahindra Group Press Release

As a company that keeps talent development as priority, Mahindra Group has undergone some major changes in its executive leadership team.

Mr. Amarjyoti Barua

Mr. Amarjyoti Barua takes over the position of the Group Chief Financial Officer and Key Managerial Personnel of the Company in this process. He will resume his duties in this new role from 17th May 2024 onwards. 

Currently, he is positioned as Executive Vice President - Group (Strategy) for the Mahindra Group and the Chief Investor Relations Officer. Under this crucial role, Mr Barua oversees the company’s all-inclusive business portfolios and framing progressive development strategies.

Before joining Mahindra Group in May 2023, he worked at various leading business groups in India and abroad. The OFSE segment of Baker Hughes and GE are a few names to mention. A Master’s degree holder, Mr. Barua is a man of vision having the flair and caliber to empower the organizations he works for.

He overtook his position from Mr. Manoj Bhat, who is now appointed as MD & CEO of MHRIL. He will be operational in his new role from 17th May 2024 onwards. 

In his previous role, Mr Bhat handled the company's crucial financial planning & analysis tax management, fundraising, and business planning. He is also part of the Board of Directors team of Tech Mahindra.

A graduate of IIT Mumbai and a post-graduate alumni of IIM Bangalore, he has laudable leadership and corporate planning & development skills to offer. 

Mahindra Group Press Release

Mumbai, February 02, 2024 – Mahindra Group today announced key leadership appointments across businesses. Manoj Bhat, Group Chief Financial Officer has been appointed as the MD &  CEO of MHRIL effective 17th May 2024, consequent to Kavinder Singh’s decision to take on the next challenge in his professional journey effective 16th May 2024. 

Amarjyoti Barua, Executive Vice President - Group Strategy will lead the Mahindra Group’s Finance Organisation as the Group CFO effective 17th May 2024.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “Talent Development is a key  priority at the Mahindra Group, which has enabled us to attract and retain top talent. In addition to  world-class development programs, we have mapped career paths for each leader, which include  experience across multiple roles. As a result, we have increased internal job rotations across  businesses. We truly appreciate Kavinder’s contribution to MHRIL and the Mahindra Group and  wish him the very best for the journey ahead. Manoj brings a unique combination of leadership  experiences, value creation skills and customer-first approach which aligns well with the Mahindra Group’s Rise philosophy. We look forward to MHRIL’s next phase of growth under his leadership”.

In sync with the Group’s talent development philosophy, there is further planned rotation of key  finance talent. Effective 1st May 2024, Vimal Agarwal, current CFO of Mahindra Lifespaces  Developers Ltd. (MLDL) will move as CFO for MHRIL and will be succeeded by Avinash Bapat as  CFO of Mahindra Lifespace Developers Ltd. (MLDL). 

Kavinder Singh joined the Mahindra Group in 2014 as Managing Director and CEO of Mahindra  Holidays & Resorts India Limited (MHRIL) and a member of the Group Executive Board. During his tenure, his focus was towards making MHRIL a world-class vacation ownership company, with a  view to create differentiated experiences for Club Mahindra members. 

Manoj Bhat, President & Group Chief Financial Officer, moved to M&M Ltd. in April 2021 from Tech  Mahindra, where he was the CFO since 2018. As the Group CFO, Manoj capably led the Group’s  Finance Leadership Team, working closely with the CFOs of Group companies focusing on the  governance, controllership, and capital allocation discipline across the group. He has played a key role in Tech Mahindra’s organic and inorganic growth initiatives including being a part of the  acquisition and integration of Satyam and the initial public offering of Tech Mahindra in 2006. 

Amarjyoti Barua joined the Mahindra Group on 15th May 2023 as Executive Vice President - Group  Strategy. In this role, he led the Group Strategy Office, working closely with the Group's overall  portfolio of businesses. Prior to joining us, Amar was with Baker Hughes for over 6 years. In his  last role as Senior Vice President - Oil Field Services & Equipment (OFSE), he led the financial  and operational transformation of OFSE which has presence in 120+ countries and has $14B in  revenues. Prior to this he worked with GE for 18 years across various businesses globally.

About Mahindra 

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational  federation of companies with 260000 employees in over 100 countries. It enjoys a leadership  position in farm equipment, utility vehicles, information technology and financial services in India  and is the world’s largest tractor company by volume. It has a strong presence in renewable energy,  agriculture, logistics, hospitality, and real estate. The Mahindra Group has a clear focus on leading  ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive  change in the lives of communities and stakeholders to enable them to Rise.