Sanjeev Agrawal, CEO of Altico Capital, has stepped down from his position due to personal reasons. He was appointed as the CEO of the firm with the full backing of the board in October 2019, post resignation of former CEO Sanjay Grewal in September 2019. This comes at a time when lenders are cobbling up a restructuring package for the finance company that defaulted on payments. The Non-Bank Financial Company (NBFC) is backed by private equity investors.
In a media statement, the company mentioned, “The Altico Board has accepted Agrawal’s resignation and is appreciative of the progress made under his leadership, on addressing the issues faced by the firm post the default in September 2019. The firm remains committed on working towards a resolution at the earliest.”
Sanjeev Agrawal has been a seasoned leader with about 32 years of overall experience cutting across banking, finance, operations, strategic transformations and operations. A large part (24 years) of his storied career has been spent at Standard Chartered Bank both in India and Asia. In his last role as Regional CFO – ASEAN, South Asia and Singapore — he oversaw 16 countries and 40 companies. Individual country CFOs reported to him in this role.
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