Poonawalla Fincorp appoints Salil Hajarnis as CTO after Dhiraj Saxena resigns citing ‘harassment’

Poonawalla Fincorp Limited, a non-banking finance company (NBFC) promoted by the Cyrus Poonawalla Group, has announced the appointment of Salil Hajarnis as Chief Technology Officer (CTO). The board of directors approved Hajarnis' appointment on September 11, 2024, with his tenure commencing today, December 10, 2024.

Hajarnis will spearhead the company’s technology strategy, focusing on digital transformation and AI-driven customer solutions. "Salil’s expertise in AI, enterprise architecture, and digital innovation makes him an invaluable addition to our leadership team," said Arvind Kapil, Managing Director and CEO of Poonawalla Fincorp. "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."

With over two decades of experience, Hajarnis has a proven track record in enterprise architecture, software engineering, and AI integration. He previously served as head of technology for India at Fiserv, leading AI and API-enabled solutions, real-time integrations, and platform modernisation across India, ASEAN, and Australia. Prior to Fiserv, he held senior roles at Capgemini, where he oversaw complex transformations, enhanced platform capabilities, and developed innovative solutions for lending and payment systems for global financial institutions.

Hajarnis' appointment followed the resignation of Poonawalla Fincorp’s previous CTO, Dhiraj Saxena. Saxena, whose resignation took effect on December 3, 2024, cited harassment by the company’s chief human resources officer (CHRO) as the reason for his departure.

Hajarnis to replace Saxena

In his resignation letter dated September 6, Saxena alleged that the CHRO's "harassment and unnecessary interventions" had impeded his ability to manage IT functions effectively. "I have tried my best to collaborate, but it seems it is not as per the HR policy," Saxena wrote. He further claimed that the issues had created unrest within the IT team and disrupted overall operations.

Saxena’s departure came during a period of significant leadership changes at Poonawalla Fincorp. Arvind Kapil, formerly of HDFC Bank, joined as managing director and chief executive officer in June 2024. In July 2024, Harsh Kumar was appointed as CHRO. Reports suggest these transitions have caused disruptions, with concerns raised about Kapil bringing in new personnel.