Mahindra Holidays & Resorts India Ltd (ClubMahindra) has announced a key leadership change at the company with the Board approving the appointment of Rajiv Vimal as Chief Financial Officer, effective July 1, 2026. The move comes following the resignation of Vimal Agarwal, who is set to transition to a new role within the Mahindra Group.
Board accepts resignation
According to the company, Agarwal has tendered his resignation effective close of business hours on June 30, 2026. The Nomination and Remuneration Committee as well as the Board of Directors have formally noted and accepted his resignation at their meetings held on May 5, 2026.
Seasoned finance leader takes charge
Rajiv Vimal steps into the role with over two decades of experience spanning strategic finance, governance, performance management and large-scale operations across manufacturing and services sectors. His appointment, based on the recommendation of the Nomination and Remuneration Committee and the Audit Committee, signals the company’s focus on strengthening financial leadership amid evolving business priorities.
Track record across industries
Prior to this appointment, Vimal served as Chief Financial Officer at PPG Asian Paints Private Limited, a joint venture between PPG Industries and Asian Paints. In this role, he was instrumental in driving strategy, growth, capital allocation and profitability, while overseeing finance, accounting, taxation, internal audit, legal compliance and CSR functions.
Strong telecom and financial leadership experience
Earlier in his career, Vimal spent more than 13 years with Vodafone, where he held several senior finance leadership positions across regions, including as Head of Finance for the MPCG Circle. His cross-sector experience is expected to bring a balanced perspective to the company’s financial strategy and execution.
Focus on governance and execution
A Chartered Accountant and a Commerce graduate from St. Xavier’s College Kolkata, Vimal is known for combining strategic insight with strong execution and governance discipline. His appointment comes at a time when companies are increasingly focusing on financial agility, compliance and long-term value creation.
Continuity and forward momentum
With this transition, the company aims to ensure continuity in financial stewardship while aligning leadership with its next phase of growth. As management indicated, the new CFO’s blend of operational depth and strategic acumen is expected to support the company’s evolving business roadmap.