Anand Mahindra to become non-executive chairman, M&M board approves transition

The board has approved the transition of Anand Mahindra’s role from chairman to non-executive chairman

The board of Mahindra & Mahindra (M&M) has approved the transition of Anand Mahindra’s role from chairman to non-executive chairman, the automajor said in a statement. Pawan Goenka has been re-designated as the managing director and CEO up to November 11, 2020.

As Non-Executive Chairman, Mahindra will serve as a mentor and sounding board for the managing director, especially in the areas of strategic planning, risk mitigation and external interface, the statement said.

In other changes, Anish Shah has been appointed as chief financial officer (CFO) till April 2021. After April 2, 2021, he will assume charge as the MD and CEO of the company for a three-year period.

Shah was previously Group President (Strategy) for the Mahindra Group and a member of the group executive board.

VS Parthasarathy is going to step down as CFO on April 1, 2020. The board approved the appointment of Rajesh Jejurikar, currently President — Farm Equipment Sector, as an additional director from April 1.CP Gurnani will now be an additional director from April 15, 2020. He will be Non-Executive, Non-Independent Director.

Source: Moneycontrol

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