Poonawalla Fincorp CTO resigns alleging harassment by CHRO in letter

Dhiraj Saxena, Chief Technology Officer (CTO) at Poonawalla Fincorp Limited, has stepped down from his position, effective December 3, 2024. The resignation, submitted in September, was made public through a regulatory filing on December 6.

Saxena’s resignation letter highlighted serious allegations against the company’s Chief Human Resources Officer (CHRO). He cited harassment and undue interference as reasons for his decision, stating that these actions had severely impacted the organisation’s IT functions.

“I hereby resign from the post of Chief Technology Officer due to harassment and unnecessary interventions of the CHRO, which is impacting me in managing the IT function effectively and efficiently. This is creating major unrest in the team, thereby impacting IT delivery. I have tried my best to collaborate, but it seems it is not the intention of the other side,” Saxena wrote in his letter.

Saxena, a key figure in the company’s technological initiatives, expressed his frustration over the lack of collaboration and its cascading impact on team performance and project delivery.

Poonawalla Fincorp has not issued a formal statement addressing the allegations. The company’s regulatory filing confirmed adherence to SEBI guidelines by providing detailed cessation disclosures but refrained from commenting on the claims raised by Saxena.