MAM
Muthoot Microfin hires 2,300+ employees during pandemic
New Delhi: At a time when businesses worldwide are struggling to retain employees and maintain salaries, Muthoot Microfin has expanded its employee strength by 37 per cent.
In a statement issued on Friday, the microfinance firm said it has hired more than 2,300 employees while opening as many as 64 new offices across different parts of the country. Most of the new employees were roped in as part of recruitment drives conducted for candidates who had lost their job due to the pandemic.
The firm has allowed all employees to work from home during the period, apart from providing Covid insurance for all, covering hospitalisation costs as well as expenses on medicine. “Besides, Muthoot Microfin ensured no pay cut and complete job security for all employees. It was on the basis of these aforementioned initiatives that the company was ranked among ‘Best Place to Work’ by GPTW Institute,” said the company.
Muthoot Microfin CEO Sadaf Sayeed said, “We have always kept employee wellbeing on the top of the pedestal, as they are the backbone of our institution. As the pandemic struck, we issued alerts and opened a full-fledged control room to address the panic and concerns among our employees. Also, we actively engaged with them through skill development programs.”
The company’s HR head Subhransu Pattnayak added, “Our communication strategy was primarily to keep in constant touch with all employees throughout the lockdown period and keep a tab on their safety and wellbeing. We also rolled out a slew of employee engagement activities, associated with online learning platforms and activated internal LMS for skill training of employees. We invested a lot on providing training to our staff over the past year.”
The company has disbursed Rs 2,700 crores worth of loans in FY2021.
Brands
Aditya Birla Fashion & Retail reshuffles top deck; Nikhil Modha to take over as CFO
Phased transition sees Marco Agnolin head OWND!, Nikhil Modha lined up as CFO as company readies next growth leg
MUMBAI: Aditya Birla Fashion & Retail is redrawing its leadership map, lining up a new generation of executives across key roles as it prepares for its next phase of growth.
The company has named Suraj Bahirwani as chief executive (designate) of Pantaloons, effective April 1, 2026, with a full transition to the top role slated for October 1, 2026. He will also be designated as senior managerial personnel.
A two-decade veteran of the Aditya Birla Group, Bahirwani joined as a group management trainee in 2002 and has since held a string of leadership roles across retail and manufacturing. His resume spans stints at Aditya Birla Retail, a tenure as chief operating officer of Pantaloons, and most recently, head of global sales at the group’s cellulosic fibres business, where he drove international expansion and strengthened value-added portfolios.
Academically, he holds a PhD from the University of Mumbai, a postgraduate management diploma from SP Jain Institute of Management and Research, and is a chartered accountant. Over the years, he has picked up multiple chairman’s awards, including distinguished achiever, exceptional contributor and accomplished leader.
The transition at Pantaloons will be staged. Incumbent chief executive Sangeeta Tanwani will continue until September 30, 2026, steering the handover before moving into an advisory role to the managing director from October 1, 2026. She is set to retire on January 31, 2027, at which point she will step down as whole-time director and key managerial personnel.
Alongside, the company has brought in Marco Agnolin as chief executive of OWND! and senior managerial personnel, effective April 6, 2026. Agnolin arrives with over three decades of global experience, having held senior roles at Inditex, where he helped expand Zara in Italy, and later served as chief executive of Bershka and Diesel. His track record spans fast fashion, brand turnarounds and youth-focused retail.
On the finance side, Nikhil Modha has been appointed chief financial officer (designate) and senior managerial personnel from April 1, 2026. He will assume full charge as chief financial officer and key managerial personnel from January 1, 2027.
Current chief financial officer Jagdish Bajaj will oversee a phased transition until December 31, 2026, before retiring and stepping down from his roles.
The reshuffle signals a calibrated succession plan rather than a sudden overhaul, with the company staggering exits and appointments to ensure continuity even as it refreshes leadership across verticals.
As Aditya Birla Fashion & Retail juggles legacy brands and new-age formats, the message is clear: steady hands for the present, sharper ones for the future—and no pause in the push for scale.
