Poonawalla Fincorp Limited on Friday said its CEO Vijay Deshwal has stepped down to take up another role in Cyrus Poonawalla Group. “Vijay Deshwal, Chief Executive Officer (CEO) of the company has decided to take up the strategic role within the Cyrus Poonawalla Group where he will spearhead emerging investment opportunities.

“Consequently, he has stepped down as the CEO of the Company and ceases to be a Key Managerial Personnel of the Company from the close of business hours of 4 March 2022,” the company said in a regulatory filing.

The company continues to be on its path to achieve its stated objectives under dynamic leadership of Managing Director Abhay Bhutada, the non-banking finance company said.

Bhutada will continue to be responsible for both the operational as well as strategic matters of the organisation, supported with a strong management team, it added.