Mahindra Finance's CFO Vivek Karve resigns; to pursue other interests

Mahindra & Mahindra Financial Services (Mahindra Finance) on Tuesday announced that Vivek Karve, chief financial officer of the company, tendered his resignation to pursue personal, social, and professional interests beyond full employment.

However, he will continue with the company beyond his notice period, till October 31, 2024, to ensure a smooth transition. The company is in the process of identifying a suitable candidate for the role.

Speaking on the resignation, Raul Rebello, managing director and chief executive officer, said, “Given his association with the company and management over the years, he has agreed to remain with the company beyond the stipulated notice period and until the declaration of financial results for the second quarter FY 2025, i.e. up to October 31, 2024, thereby ensuring a smooth transition.”

“As regards succession planning, the company is in the process of identifying a suitable candidate and necessary announcements will be made in due course,” Rebello added.

Karve joined Mahindra Finance in 2020 and before joining the non-banking financial company worked for nearly 20 years with Marico.

Rebello said, “We express our appreciation for Vivek’s contributions over the last four years with Mahindra Finance. It is during this time that our company has navigated challenging times and has also achieved significant milestones. While we are sad to see him leave, we respect his personal decision to pursue personal, social, and professional interests beyond full-time employment at this stage of his professional career.”