New Delhi: Upholding values and knowing that reputation is as important as profits for success is the mantra for the newly-appointed chairman of the Mahindra Group, Anand Mahindra, who admits that there will be ‘challenges aplenty’ and ‘excitement’ in his new role.
“Looking ahead, there are challenges aplenty but great excitement as well. What do I see today? This is a group that is uncompromising on its values and knows that reputation is as important for its success as its profits,” Mahindra told PTI in an e-mailed response.
He had taken over the mantle of the $15.4 billion diversified group that has presence from farm equipment sector to aerospace last week, following the retirement of his uncle Keshub Mahindra.
Mahindra, 57, who had been vice-chairman and managing director of Mahindra & Mahindra Ltd since January, 2003, said the group’s core values have been to make people grow as much as it has grown over the years.
“This is a group that works for a larger purpose – that truly believes it can help people everywhere, to Rise,” he said.
Mahindra was also responsible for the group adopting a new brand positioning of “Rise” across sectors, companies, and geographies in January, 2011 with the intent of challenging conventional thinking and “innovatively use all our resources to drive positive change in the lives of our stakeholders and communities across the world, to enable them to Rise”.
While his uncle led the group’s transformation of the group from a steel trading company to a formidable automotive company, Mahindra has played key roles in diversification into other sectors and expansion through acquisitions both in domestic and overseas markets.
During his tenure, the group has made acquisitions, including Ssangyong Motors, Reva Electric Car Co, Satyam Computer Services, Aerostaff Australia and Gippsland Aeronautics among others.
“This is a group that is becoming a model 21st century corporation and I feel honoured to be at the helm in leading it there,” Mahindra said.