The Board of Directors of Mahindra and Mahindra Limited, an Indian multinational corporation, one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractors in the world, announced that Dr Anish Shah, who is presently the Deputy Managing Director and Group Chief Financial Officer would take over as the Managing Director and Chief Executive Officer, effective April 2, 2021.
This follows the top management succession announcement, dated December 20, 2019. In November, when Mr Anand Mahindra transitions to the role of Non-Executive Chairman, Dr Anish Shah will become the first professional MD and CEO in the history of the Mahindra Group to have complete oversight of and responsibility for the Mahindra Group businesses.
Dr Pawan Goenka will retire as the MD and CEO and a Member of the Board of Directors of M&M Ltd., effective April 2, 2021. As the MD and CEO, he had oversight of the Automobile and Farm Equipment sectors. Rajesh Jejurikar, Executive Director, will take full charge of these sectors and report to Dr Shah.
Mr Anand Mahindra, Chairman, Mahindra Group, said, “On behalf of the Board, I salute the work accomplished by Pawan throughout his 27-year-long career in the company, which has resulted in its strong growth. My gratitude to him for making the transition as smooth and seamless as possible throughout the last year.”
He further said, “One of the reasons we succeeded and thrived over the past 75 years was that we were good at introducing change in the right measure at the right time. Anish is the right leader for the Mahindra Group. As the MD and CEO, he will have complete oversight of all Mahindra Group businesses, including our global operations, the transformation agenda, and synergising and driving several strategic programmes. Anish embodies the spirit of ‘Rise’ and brings an exceptional leadership track record, strong international exposure and a unique ability to forge long-standing relationships with our customers, partners and employees. I believe that there is no better person to lead Mahindra into the future.”
Commenting on his appointment, Dr Anish Shah said, “I am humbled and deeply honoured to lead the Mahindra Group, an extraordinary organisation whose real wealth lies in its people who embody its core values and live its purpose every day. I look forward to working closely with Anand and all my colleagues to write a new chapter of growth and to drive positive change in the lives of our stakeholders to enable them to Rise.”
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