Poonawalla Fincorp CTO Dhiraj Saxena Resigns Suddenly

A leadership shake-up as CTO Dhiraj Saxena resigns, citing harassment by the CHRO

In a surprising move, Dhiraj Saxena, the Chief Technology Officer (CTO) of Poonawalla Fincorp, resigned on December 3, citing harassment by the company’s Chief Human Resources Officer (CHRO), Harsh Kumar. The resignation letter, submitted in September but made public later , revealed that Saxena faced “unnecessary interventions” from the CHRO, which hampered his ability to effectively manage the company’s IT department.

Saxena stated that these issues led to unrest within his team, affecting project delivery. He mentioned that despite his attempts to collaborate, the situation did not improve, leading to his resignation.

This marks another leadership change at Poonawalla Fincorp, which has already seen significant shifts this year. In June, Arvind Kapil took over as CEO, and Harsh Kumar was appointed CHRO a month later. These changes have reportedly caused internal disruptions.

Saxena joined Poonawalla Fincorp in 2023 with a strong background in banking and finance, but his resignation highlights deeper challenges within the company.

Analysis:

Saxena’s resignation points to possible leadership and organizational issues at Poonawalla Fincorp. Harassment claims in such high-level positions raise concerns about the company’s internal culture and leadership dynamics. With several changes in top positions, the company now faces the task of stabilizing its workforce and addressing these internal conflicts to ensure smooth operations and continued growth. This situation serves as a reminder for startups and growing companies to focus on clear communication and team collaboration to avoid similar challenges.

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