- The post of MD Pawan Kumar Goenka will be MD-CEO
- Group President (Strategy) Anish Shah will take over as CFO
- Shah will become MD-CEO on 2 April 2021
Anand Mahindra (64), executive chairman of Mahindra & Mahindra, will be the non-executive chairman from April 1, 2020. This means that instead of the functioning of the board, they will be in the role of guide. The change was approved by the Board of Directors on the recommendations of the company’s Governance, Nomination and Remuneration Committee (GNRC) on Friday. The board has also made other changes.
Anand Mahindra going to step down as executive chairman from April 1, 2020
The company’s MD Pawan Kumar Goenka will be the MD-CEO from 1 April. His term is till 11 November 2020. Thereafter there will be reappointment from 12 November to 1 April 2021. The company said that many officers will retire in the next 15 months. Therefore, the stock market regulator has been structured according to the guidelines of SEBI.
Anish Shah to appointed MD-CEO for three years in 2021
Group President (Strategy) Anish Shah will assume the post of Chief Financial Officer (CFO) from 1 April 2020. The current CFO VS Parthasarathy will step down on 1 April. He will head the mobility services sector. After Market, Mahindra Logistics and AutoMobility Services are being combined to create the Mobility Services Sector. Anish Shah will become MD and CEO on 2 April 2021. However, his term on this post will until 31 March 2025.
Other changes
Rajesh Jejurikar (President – Farm Equipment Sector) will become an Additional Director from 1 April. After the appointment, the company will hold additional directors until the next AGM.
CP Gurnani will be the MD and CEO of Tech Mahindra. The board of Mahindra & Mahindra will comprise as a non-executive director.
Rajeev Dubey, Group President (HR & Corporate Services) and CEO (After-Market Secretary) will retire on 1 April. After this, he will be associated with the role of advisor.
Ruzbeh will become the head of Irani Group (HR & Communications).
Committed to Good Governance: Anand Mahindra
Anand Mahindra has said that it pleased to announce plans for a leadership change. This shows our commitment to good governance. I am grateful to the Board and the Nomination Committee. Also, who worked hard for a year to formulate the plan.
Delighted to announce our leadership transition plan which reflects the Group’s commitment to good governance. I am grateful to the board & nominations committee for conducting a diligent & rigorous year-long process that will ensure a seamless transition https://t.co/iw34PPxmCg
— anand mahindra (@anandmahindra) December 20, 2019
