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  Business   Companies  20 Dec 2019  Mahindra announces succession plan, Anand Mahindra to become non-exec chairman

Mahindra announces succession plan, Anand Mahindra to become non-exec chairman

PTI
Published : Dec 20, 2019, 3:28 pm IST
Updated : Dec 20, 2019, 3:28 pm IST

Anish Shah will transition to become Managing Director and CEO on April 2, 2021, replacing Goenka, who will retire after his term ends.

In a statement, Mahindra and Mahindra said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020.
 In a statement, Mahindra and Mahindra said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020.

New Delhi: Mahindra & Mahindra (M&M) on Friday announced a rejig of its top management with Anand Mahindra, 64, transiting to the role of non-executive chairman from executive chairman, effective 1 April, 2020.

In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020.

The company has created the CEO position as it aims to implement its plans around electric mobility and capitalise on the synergies with Ford's India operations in the near future.

Further, Anish Shah will transition to become Managing Director and CEO on April 2, 2021, replacing Goenka, who will retire after his term ends.

Shah will join M&M board as Deputy Managing Director and Group CFO, replacing VS Parthasarathy, the current CFO.

Parthasarathy will head the mobility services sector, which is a new sector being created by combining the after-market sector, Mahindra Logistics and Auto Mobility Services.

Tags: mahindra and mahindra, anand mahindra, mahindra, pawan kumar goenka, electric mobility, ford
Location: India, Delhi, New Delhi