The IDFC Ltd board has approved the appointment of Mahendra N Shah as managing director-designate of the company with effect from October 1, 2022, till September 30, 2023, subject to the approval of the shareholders. The term of Sunil Kakar as managing director & CEO of the company will end on 30 September 2022. Mahendra N Shah was the group company secretary & group chief compliance officer of IDFC First Bank and has been the group head of governance, compliance & secretarial and senior advisor of taxation at IDFC for more than a decade.
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Prior to joining IDFC in 2001, Shah has also worked with International Paper Limited 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.
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