Mahindra Holidays & Resorts India Ltd (MHRIL), the managing entity of Club Mahindra resorts, announced on Tuesday the resignation of Chief Financial Officer Vimal Agarwal. The company has appointed a successor to facilitate a seamless leadership transition.
The Board of Directors accepted Agarwal’s resignation during a meeting held the same day, effective at the close of business on June 30, 2026. His departure is not a disassociation from the Mahindra conglomerate, as Agarwal will assume a new role within the wider Mahindra Group. The resignation letter, dated May 4, 2026, confirms this change.
Rajiv Vimal has been designated as the new CFO and Key Managerial Personnel, effective July 1, 2026. He is set to join the company on June 23, 2026, allowing for a brief overlap with Agarwal before formally taking charge. This appointment comes on the recommendation of both the Nomination and Remuneration Committee and the Audit Committee.
Vimal brings over 20 years of finance expertise to his new position. He currently serves as CFO of PPG Asian Paints Private Ltd, a partnership between PPG Industries and Asian Paints, where he manages strategy, capital distribution, finance, taxation, internal auditing, legal compliance, and corporate social responsibility. Previously, he spent more than 13 years at Vodafone in senior finance roles, including Head of Finance for the MPCG Circle. Vimal is a Chartered Accountant and a commerce graduate from St. Xavier’s College, Kolkata.
As of the latest trading session, MHRIL shares were priced at ₹240.33 on the NSE, marking a 0.74 percent decrease from the previous close of ₹242.13. The stock price has declined nearly 25 percent over the last 12 months, significantly below its 52-week high of ₹382, which was reached in July 2025. The company’s total market capitalization stands at approximately ₹4,856 crore.
Published on May 5, 2026.
