Anand Mahindra becomes Executive Chairman of Mahindra & Mahindra

11 November, New Delhi

Mahindra and Mahindra Limited (M&M) today announced that Anand Mahindra, who currently holds the position of Chairman and Managing Director, is being designated as Executive Chairman of the Company with Dr Pawan Goenka being elevated to the position of Managing Director.

He will continue to report to Anand Mahindra and the Board of the Company. Reacting on the developments, Mahindra said, “This is in line with the practice followed by companies across the Mahindra Group, where the position of Managing Director or CEO is distinct from that of the Chairman.”

Mahindra emphasised that as the Executive Chairman of Mahindra & Mahindra he will continue to oversee, and be responsible for shaping, the growth strategies of the Company and its portfolio of investments.

The organisation structures and processes in M&M and in the Group Corporate Office have already been aligned with this change over the past one year and there will be no change in the reporting relationships of the Group Presidents / Presidents who head the other Sectors / Functions of the Group.

Announcing the appointment, Mahindra said “Pawan has played a major role in M&M’s meteoric growth in the post liberalization era. His elevation as MD is a fitting recognition not only of his vast experience and domain knowledge in the mobility space and his many past achievements, but also of the eminent role that he currently plays in the Company”.

Dr Goenka joined Mahindra & Mahindra as General Manager R&D in 1993, after working for General Motors Corp. in Detroit, USA for 14 years, and was instrumental in growing the R&D capability of Mahindra and also the launch of the Scorpio SUV.