Mahindra Lifespace Developers Ltd. recently announced Mr Arun Nanda’s retirement from the Board and as its long-standing Chairman.

He joined the Mahindra Group in 1973 and has held several important positions within the Group over the years. He was inducted to the Board of Mahindra & Mahindra Limited (M&M Ltd.) in August 1992 and resigned as Executive Director in March 2010 to focus on the social sector and create a favourable ecosystem for senior citizens. He continued as a non-executive director of M&M Ltd. from April 2010 to August 2014. Mr Arun Nanda served as a Director of the National Skill Development Corporation, Chairman of the CII Western Region Council, Chairman of CII’s National Committee on Skill Development and Livelihood, and Member of the Governing Body of Helpage India. He is also Chairman Emeritus of the Indo-French Chamber of Commerce. He is the recipient of the highest honour, ‘Chevalier de la Legion d’Honneur’ (Knight of the National Order of the Legion of Honour), by the President of the French Republic, Nicolas Sarkozy, in 2008, and several lifetime achievement awards from various industry bodies and media.

Mr Nanda will always be remembered for his pioneering work in setting up the country’s first SEZ under the PPP model in Chennai and later in Jaipur. He will remain the Chairman of Mahindra Holidays & Resorts (I) Ltd and Holiday Club Resorts Oy., Finland as well as a Director of Mahindra Holdings Ltd.

Speaking about the announcement, Anand Mahindra, Chairman, Mahindra Group, stated, “Arun has been an invaluable part of the Mahindra Group and has been instrumental in its growth and expansion, especially in the services business. He spearheaded the Group’s foray into real estate and hospitality and set up Mahindra Holidays and Mahindra Lifespaces. His leadership and guidance over the decades enabled these businesses to flourish and become key contributors to the diversity of the Group. He has been a mentor to several other businesses within the Group, and his work in the social sector, particularly for senior citizens, is laudable. Arun remains a trusted advisor and a friend, and I wish him all the best as he continues his work within the Group and with the industry.”

Anish Shah, Managing Director and CEO, Mahindra Group, commented, “Arun is an exceptional leader who has had a deep impact on the Mahindra Group. He has played a crucial role in building the foundation for the Group over nearly half a century, which included setting up our real estate and hospitality sectors. We truly appreciate his contribution to the Mahindra Group and his pioneering work in setting up the Mahindra World Cities. His contribution to critical industry areas such as skill development is significant. He remains an integral part of the Mahindra Group and continues to support the next generation of leaders. I am also very happy to welcome Ameet Hariani as the Chairman of the Board of Mahindra Lifespaces and am confident that the company will embark on the next chapter of growth under his guidance.”