Mumbai, Maharashtra, India, May 2026 – Mahindra Holidays & Resorts India Limited (MHRIL) has announced a significant transition in its top leadership team. The Board of Directors, in a meeting held on May 5, 2026, approved the resignation of Vimal Agarwal from the position of Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on June 30, 2026. Simultaneously, the Board approved the appointment of Rajiv Vimal as the new Chief Financial Officer, who will take charge starting July 1, 2026.
The leadership transition comes as Vimal Agarwal moves into a new role within the broader Mahindra Group, following his tenure as CFO at MHRIL. His successor, Rajiv Vimal, brings over two decades of experience in strategic finance, governance, and business leadership, positioning him well to support the company’s continued growth and transformation.
Rajiv Vimal joins MHRIL from a leadership role as Chief Financial Officer at the joint venture of PPG Industries and Asian Paints in India, where he played a pivotal role in driving long-term strategic initiatives, financial performance, and operational excellence across multiple business functions including finance, taxation, legal, and corporate governance.
Prior to this, he spent several years with Vodafone, where he held multiple senior leadership roles including Head of Finance, Head of Finance Operations, and Head of Financial Planning & Analysis. During his tenure, he was a key member of leadership teams driving revenue growth, cost optimization, capital allocation, and governance across business units, while also strengthening financial systems and processes.
A Chartered Accountant by qualification, Rajiv Vimal has built a strong reputation for strategic finance leadership, business partnering, and driving performance in complex and competitive environments. His appointment was recommended by both the Nomination & Remuneration Committee and the Audit Committee, reflecting strong confidence in his leadership capabilities.
About Mahindra Holidays & Resorts India Limited
Mahindra Holidays & Resorts India Limited (MHRIL), part of the Mahindra Group, is a leading player in the leisure hospitality industry through its flagship brand Club Mahindra. With over 250,000 members and access to more than 100 resorts across India and international destinations, the company continues to expand its footprint. With a growing inventory of over 6,000 rooms and a long-term vision of reaching 12,000 keys by FY30, MHRIL is focused on delivering premium vacation experiences while driving sustainable growth through its asset-light strategy and innovative offerings like the “KEYSTONE” product.
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