L&T Finance Holdings’ group CFO Chandrashekhar Damle quits

Chandrashekhar S Damle, the group chief financial officer (CFO) of L&T Finance Holdings Ltd, a subsidiary of business conglomerate Larsen and Toubro Ltd (L&T), has resigned from his services of the firm, as per a stock market disclosure.

Damle decided to quit for pursuing alternate career opportunities. He did not share information on his next move.

He has 25 years’ experience in management consulting, project development, structuring & financing of power & infrastructure Public-Private-Partnership (PPP) projects.

His last assignment was chief executive (power development) at Larsen & Toubro Ltd. and steered the holding company L&T Power Development Ltd. (LTPDL) that held five projects in four subsidiaries to develop thermal & hydropower projects.

Damle joined L&T in 2005 as head of project finance and in this capacity raised over Rs 10,000 crore non-recourse long term project financing for L&T’s various BOT projects in core and urban infrastructure.

In the past he has also worked at SREI Infrastructure; Feedback Ventures, where he was president – core infrastructure and served in the capacity of CIO for the Feedback First Urban Infrastructure Fund (U-Fund); ICICI; A F Ferguson & Co.; Mico Ltd and Voltas.

The company is now in the process of evaluating suitable candidates in place of Damle.

Incorporated in 1994, Mumbai-based L&T Finance Holdings offers financial product and services across corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services.

It counts Malaysian sovereign wealth fund Khazanah among its shareholders.

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