MM Financial shareholders confirm Rebello as new CEO, Sarwate’s term extended by 5 years
Mahindra & Mahindra Financial Services Limited extended Independent Director Milind Sarwate’s term for Next five years commencing from 1 April 2024 to 31st March 2029.
Shareholders of the company also approved the appointment of Managing Director and Chief Executive Officer Raul Rebello in an AGM on 28 July 2023. He was appointed on 1st May 2023.
The Company also Appoints Amar Jyoti Barua and Ashwani Ghai as a Non Executive Non Independent Director.
Milind Sarwate has 39-year experience including long stints as CFO and CHRO in Marico & Godrej. His independent directorships include Asian Paints, FSN E-Commerce (Nykaa), Matrimony.com and Hexaware. He specialises in audit committee roles. He has been on listed company boards since 2005. His previous board memberships include Mindtree and International Paper.
Raul Rebello is a career banker with extensive experience in the domain of rural banking and financial inclusion. Prior to joining the Company, Rebello was with Axis Bank as EVP & Head – Rural Lending & Financial Inclusion. In his 19-year stint with Axis Bank, he led key businesses including rural lending, farmer funding, gold loans, MSME lending, commodity loans, tractor & farm equipment lending, agri-value chain deposits, payment & insurance. Rebello is a post-graduate in Management from the Goa Institute of Management.
Amarjyoti Barua was the Finance Leader for Oilfield Services & Equipment (OFSE) segment of Baker Hughes. He was the Chief Financial Officer (CFO) for GE’s Power Conversion business. He was also the CFO for GE Mining, Financial Planning & Analysis Leader for GE in India. Barua completed the Financial Management Program and served as the finance manager for GE Aircraft Engines in India before joining the Corporate audit staff. Amarjyoti Barua holds Bachelor’s degree in Economics and a Master’s degree in Business Administration.
Ashwani Ghai has diverse work experience, across functions and geographies, in LIC of India and Board level experience in LIC Housing Finance Ltd and LIC HFL Financial services Ltd. He is a post graduate in Economics, PGEP from IIM Ahmedabad & Fellow of Insurance Institute of India (FIII).
