Sachin Bansal steps down as Navi CEO, appoints new leadership
What's the story
Sachin Bansal, the founder of Navi, has resigned from his position as CEO. He has announced Rajiv Naresh as the new CEO of Navi Technologies Limited (NTL) and Abhishek Dwivedi as the head of Navi Finserv Limited (NFL). However, despite his resignation, Bansal will continue to serve as Executive Chairman for the entire Navi Group.
Leadership transition
New leaders are part of Navi's founding team
The newly appointed executives, Naresh and Dwivedi, are not fresh faces at the Navi Group. They have been a part of the organization's founding team and have held various leadership positions within the group over the last six years. This leadership transition comes after recent regulatory action temporarily halted Navi's lending operations for around 40 days.
Strategic move
Restructuring aims to enhance Navi's long-term growth
Describing this restructuring as a strategic milestone, Bansal said it will help Navi focus on long-term growth. He expressed confidence in Naresh and Dwivedi, saying they have played key roles in Navi's growth and will continue to do so in their new positions. Bansal said this transition is a proactive evolution designed to enhance performance, not a response to any recent challenges faced by the company. As chairman, Bansal will focus on guiding the overall vision of the Navi Group.