Private lender IDFC on on August 24 said it has appointed Mahendra Shah as managing director and chief executive officer with effect from October 1, 2022, till September 30, 2023, subject to the approval of the shareholders.

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Shah will replace incumbent MD and CEO Sunil Kakar, whose term will end on September 30, 2022, the company said in an exchange filing.

Shah was the group company secretary and group compliance officer of IDFC FIRST Bank Ltd and has been the group head — governance, compliance and secretarial and senior advisor — taxation at IDFC Ltd for more than a decade.

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Currently, he is company secretary and compliance officer at IDFC Ltd since May 24, 2019. In this role, Shah has been responsible for secretarial, governance, and compliance function for over 26 companies/entities of IDFC Group.

Prior to joining IDFC in 2001, Shah worked with International Paper Ltd for a period of six years as director of finance and company secretary, where he was in charge of the finance function and regulatory compliances.

Shah has worked as head of taxation in SKF Bearings India Ltd where he was responsible for direct and indirect taxation matters across India. He also worked for a short period with Pfizer Ltd as a finance officer.

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He completed his article-ship for CA with Bansi S. Mehta & Co, where he spent three years. Also, he is a qualified member of the Institute of Chartered Accountants of India (ICAI), the Institute of Cost & Management Accountants of India (ICWA), and the Institute of Company Secretaries of India (ICSI).

(Edited by : Shoma Bhattacharjee)

First Published:Aug 24, 2022 5:29 PM IST