- Anish Shah will take up the post of CFO, currently is Group President (Strategy)
- Shah to be MD-CEO for 3 years in 2021
Anand Mahindra (64), executive chairman of Mahindra & Mahindra, will be the non-executive chairman from April 1, 2020. This means that instead of functioning in the board, he 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. 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 be appointed MD-CEO on 2 April 2021
Group President (Strategy) Anish Shah will assume the post of Chief Financial Officer (CFO) from 1 April 2020. A year later, on 2 April 2021, he would become MD and CEO. His term on this post will be till 31 March 2025. The current CFO VS Parthasarathy will step down on 1 April. He will head the mobility services sector. After Market, Mahindra Logistics and Auto Mobility Services are being combined to create Mobility Services Sector.
Other changes
Rajesh Jejurikar (President – Farm Equipment Sector) will become Additional Director from 1 April. After the appointment, the company will hold additional directors till the next AGM.
CP Gurnani will join the board of Mahindra & Mahindra 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 in 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 he is 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, who worked hard for a year to formulate the plan.