Hires & Promotions: Mahindra Group, Honasa Consumer, Poonawalla Fincorp

Mahindra Group names Devendra Sharnagat as SVP - AI Division

Mahindra & Mahindra has created a centralised resource pool of data and AI expertise to spur the Mahindra group’s initiatives in the domain. Devendra Sharnagat, chief data and analytics officer (CDAO) of Mahindra Finance has been transferred to the AI division of M&M as ‘senior vice president- Mahindra AI Division’.

Consequently, he has ceased to be the Company's SMP. He has been deputed to the company to oversee its data analytics function of the company and would participate in AI initiatives of other Mahindra group companies as well.

Sharnagat, who began his career as an account executive at Direxions Marketing Services, went on to work across HDFC Bank and Kotak Mahindra Bank. In his previous role at Mahindra Finance, Sharnagat led Data and Analytics function for financial services sector. He drove business efficiency and productivity through data and digital.

As HDFC Bank's former assistant vice president - marketing analytics, Sharnagat led a team of business Analysts for managing analytical projects across Liability Products, Direct Banking Channels, Premier Banking, Depository Services, Forex Services and Prepaid Cards. His key responsibility included creating strategic Analytical framework to meet the business objectives set for the financial year across portfolios.

Honasa Consumer elevates Meetu Mulchandani to head of Brand Factory

Honasa Consumer has elevated Meetu Mulchandani as VP & head of Brand Factory.

In her expanded role, Mulchandani will lead the end-to-end journey of crafting new brands within Honasa’s House of Brands portfolio. This will encompass ideation, in-depth market research, consumer insights, concept testing, and shaping business and marketing strategy, with a strong emphasis on innovation, and market dominance through strategic growth initiatives.

Commenting on the elevation, Varun Alagh, chief executive officer & co-founder, Honasa Consumer says, "Brand Factory is central to Honasa’s vision of building India’s largest Beauty and Personal Care (BPC) House of Brands. By identifying market gaps and understanding evolving consumer needs, we’ve consistently launched and scaled successful brands. Meetu has been instrumental in this journey, driving innovation and growth for brands like Aqualogica and Dr. Sheth’s, transforming them into 100 crore success stories. I am confident she’ll continue to excel in this expanded role and bring her unique perspective, creativity and strategic mindset to lead the brand factory team.”

“I am both honoured and excited to step into this new role at a time when Honasa Consumer is poised for even greater innovation and growth. It’s been incredibly fulfilling to be part of this dynamic team, and I’m eager to continue building impactful brands that resonate with our customers. This is just the beginning, and I look forward to driving forward our vision of creating brands that not only disrupt the market but also make a meaningful difference in people's lives,” adds Mulchandani.

Mulchandani brings nearly two decades of experience in the beauty and personal care industry. She has been with Honasa for nearly four years now and has been at the helm of building young brands. Her career spans roles at Nyumi, The Mom’s Co., Healthkart, Alteus Biogenics, and Mankind Pharma.

Poonawalla Fincorp appoints Salil Hajarnis as CTO

Poonawalla Fincorp has named Salil Hajarnis as its chief technology officer (CTO). His appointment was approved by the board of directors on September 11, 2024, and will take effect on December 10, 2024. Hajarnis will lead the company's technology strategy, focusing on digital transformation and AI-driven customer solutions.

With over two decades of experience in technology leadership, he has consistently delivered impactful results in roles spanning enterprise architecture, software engineering, and AI integration, highlighting the company in a statement. At Fiserv, as head of technology for India, he led major initiatives including AI and API-enabled solutions, real-time integrations, and platform modernisation across key markets in India, ASEAN, and Australia.

Prior to Fiserv, Hajarnis held senior roles at Capgemini, where he managed complex transformations, built technology-driven customer experiences and aided in building the technology strategy for lending businesses of global financial institutions. His expertise includes modernising legacy systems, enhancing platform capabilities, and delivering innovative lending and payment solutions.

Commenting on the appointment, Arvind Kapil, managing director and CEO, Poonawalla Fincorp shares, "Salil’s expertise in AI, enterprise architecture, and digital innovation makes him an invaluable addition to our leadership team. His proven ability to execute large-scale technology transformations will be instrumental in enhancing customer experiences and driving our competitive edge in the NBFC space."

Expressing his vision for the role, Hajarnis comments, "It’s an exciting time to be part of Poonawalla Fincorp’s journey as it redefines the financial services landscape. I look forward to collaborating with the team to create scalable, future-ready technology solutions that not only enhance efficiency but also set new benchmarks in customer satisfaction."

As CTO, he will shape the company's technology roadmap, enhance operational efficiency, and deliver superior customer experiences, further added the company in a statement.