Realty firm Mahindra Lifespace Developers Ltd.'s Managing Director and Chief Executive Officer Arvind Subramanian has resigned from the company, while Amit Kumar Sinha has been appointed as MD (designate).
In a regulatory filing, Mahindra Lifespace said that the board has approved resignation of Arvind Subramanian as Managing Director and Chief Executive Officer and as a director of the company with effect from the close of business on May 22.
Subramanian has decided to move on to pursue his personal interests outside the company, it added.
The board also approved the appointment of Amit Kumar Sinha as Managing Director (Designate) of the company from Feb. 23 to May 22, 2023.
Sinha will take over as MD & CEO of the company from May 23, 2023.
The company said that Sinha joined Mahindra Group on Nov. 1, 2020 as President-Group Strategy. He became a member of Group Executive Board from April 2021.
Over the past two years, Sinha led several high-impact projects covering growth, transformation, and capital allocation across group companies.
He is on the board of Mahindra Finance, Mahindra Logistics, Mahindra Susten, Mahindra First Choice, Mahindra Rural Housing Finance and Fifth Gear Ventures.
Prior to joining the Mahindra Group, Sinha was a senior partner and director with Bain & Company. He holds dual MBA from The Wharton School, University of Pennsylvania, specialising in Finance and Strategy.
Mumbai-based Mahindra Lifespace is the real estate arm of the business conglomerate Mahindra Group. It is one of the leading real estate developers in the country.
The company's development footprint spans 32.14 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development/ management at its integrated developments/industrial clusters across four locations.
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