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

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.

Mahindra & Mahindra board approves transition of Anand Mahindra's (@anandmahindra) role to Non-executive Chairman.

Pawan Goenka (@GoenkaPk) re-designated MD & CEO upto November 11, 2020 pic.twitter.com/R5dYtEeNHL

— CNBC-TV18 (@CNBCTV18Live) December 20, 2019

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

Mahindra & Mahindra announces changes in the Directors & key managerial personnel. @anandmahindra will take over as Non-Executive Chairman effective April 1, 2020 and Anish Shah as MD & CEO effective April 2, 2021 pic.twitter.com/rY5GWnHgzc

— CNBC-TV18 (@CNBCTV18Live) December 20, 2019

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.