The announcements follow an intense 12 months of planning, interviewing and analysis to identify and prepare the correct candidates for their leadership roles in the organisation. These changes will come into effect over the next 15 months.
Chief among the announcements is the change in the role of Mr Anand Mahindra from Executive Chairman to Non-executive Chairman. This change will come into effect on 1 April 2020 and will see Mr Mahindra serve the Managing Director and senior leadership as a mentor and sounding board, especially on issues of strategic planning, risk mitigation and external matters.
With the change in Mr Mahindra’s role, Dr Pawan Goenka will see his position being re-designated as Managing Director and CEO. He will fulfil this role until his retirement on 1 April 2021.
Dr Goenka will remain responsible for SsangYong Motors, the Mahindra Ford Joint Venture, Mahindra Electric Mobility Limited, Automobili Pininfarina and Mahindra Automotive North America during the transition period before his retirement. There will be no change in any reporting relationships as a result of this re-designation.
Joining the board is the CEO-designate, Dr Anish Shah. Dr Shah will join the Mahindra & Mahindra Board on 1 April 2020 as Deputy Managing Director and Group Chief Financial Officer. He will be appointed Managing Director and Chief Executive Officer on 2 April 2021, immediately following Dr Goenka’s retirement. In another senior appointment, Mahindra & Mahindra has announced the appointment of Mr Rajesh Jejurikar as Executive Director of the Automotive and Farming Divisions. Mr Jejurikar will join the board on 1 April 2020 and report to the Managing Director and CEO.
In related news, Mr Veejay Nakra, the first CEO of Mahindra South Africa and the person responsible for establishing the Mahindra brand on firm foundations in Southern Africa, was appointed as the new Chief Executive for the Automotive Division.
Mr Nakra will have operating responsibility for the Passenger Vehicle and entire Commercial Vehicle business with financial accountability and will indirectly support the Product Development Process. He will report to Mr Jejurikar.
Other major appointments announced by Mahindra & Mahindra include:
- Rajeev Dubey, Group President (HR & Corporate Services) and CEO of the Aftermarket Sector, will retire on 1 April 2020. He will continue to serve the Group as a non-executive director and advisor.
- C.P. Gurnani, the Managing Director and CEO of Tech Mahindra will join the M&M Board as a non-executive director.
- V.S. Parthasarathy will head the new Mobility Services Sector, which is a combination of the Aftermarket, Logistics and AutoMobility Services divisions. He will report to Dr Shah.
- Ruzbeh Irani will head the Group HR and Communications division, which will include CIS, CSR and Ethics and will report to Dr Shah.