Anand Mahindra to step down as Group chairman from 1 April 2020; to become non-executive chairman of home-grown auto major

Besides Anand Mahindra and Goenka, a slew of senior appointments have been made, according to a filing to the Bombay Stock Exchange

FP Staff December 20, 2019 14:33:30 IST
Anand Mahindra to step down as Group chairman from 1 April 2020; to become non-executive chairman of home-grown auto major
  • In a filing to the exchanges, Mahindra and Mahindra Ltd., said Pawan Kumar Goenka, current managing director of the home-grown auto major, will be promoted at managing director and Chief Executive Officer with effect from 1 April, 2020

  • Besides Mahindra and Goenka, a slew of senior appointments have been made, according to a filing to the Bombay Stock Exchange

  • CP Gurnani will be an additional director from 15 April 2020 till the company's next AGM after which he will become non-executive, non-independent director

Anand Mahindra, Chairman, Mahindra Group, is taking on the role of non-executive chairman from April 2020. In a filing to the exchanges, Mahindra and Mahindra Ltd., said Pawan Kumar Goenka, current managing director of the home-grown auto major, will be promoted as managing director and Chief Executive Officer with effect from 1 April, 2020 till the end of his current term up to 11 November 2020. However, Goenka will be reappointed from 12 November, 2020 to 1 April, 2021.

Besides Mahindra and Goenka, a slew of senior appointments have been made, according to the filing.

Anish Shah has been appointed as chief financial officer (CFO) till April 2021. After 2 April 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 1 April 2020. The board approved the appointment of Rajesh Jejurikar, currently President—Farm Equipment Sector, as an additional director from 1 April.

CP Gurnani will be an additional director from 15 April 2020 till the company's next AGM after which he will become Non-Executive, Non-Independent Director.

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