Anand Mahindra to step down as chairman of Mahindra & Mahindra
In a major reshuffle, Anand Mahindra will hold the role of non-executive chairman from the earlier post of executive chairman effective from 1 April, 2020, Mahindra & Mahindra (M&M) announced on Friday.
As part of its rejig of the top management of the company, the firm said in a statement that Pawan Kumar Goenka has been re-appointed the managing director and also given the additional responsibilities of the chief executive officer, effective from 1 April, 2020.
The company has created the position of CEO as it aims to implement its plans around electric mobility and capitalise on the synergies with Ford's India operations in the near future.
Anish Shah will replace Goenka as the managing director and CEO on April 2, 2021. Goenka is set to retire after his term ends.
Shah will join M&M board as deputy managing director and group CFO, replacing V.S. 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.