With many senior officials retiring from executive roles, the company will see some major reshuffles
Over the next 15 months, senior leaders at Mahindra & Mahindra Ltd. will be retiring. Top management succession plans were announced on December 20, 2019. To recap, the major announcements made are: Anand Mahindra will transition to the role of Non-Executive Chairman of the Board of Mahindra & Mahindra Ltd. with effect from April 1, 2020. Dr. Pawan Goenka will be re-designated as Managing Director and CEO with effect from April 1, 2020, till his retirement a year later. There will be no change in any reporting relationships as a result of this re-designation.
He will continue to retain direct responsibility for SsangYong Motors, the Mahindra Ford joint venture, Mahindra Electric Mobility Ltd., Automobili Pininfarina, and Mahindra Automotive North America during the transition period prior to his retirement. Dr. Anish Shah will join the M&M Ltd. board on April 1, 2020 as Deputy Managing Director and Group CFO. He will be appointed Managing Director and CEO on April 2, 2021. On April 1, 2020, Rajesh Jejurikar will join the M&M Board as Executive Director (Automotive and Farm Sectors), and C. P. Gurnani, Managing Director and CEO of Tech Mahindra Ltd. will join the M&M Board as a Non-Executive Director.
Rajeev Dubey, Group President – HR and Corporate Services and CEO – After-Market Sector, will retire on April 1, 2020 on reaching the age of superannuation. Consequent to his retirement, Ruzbeh Irani will head Group HR and Communications, which includes CSR, CIS and Ethics. V. S. Parthasarathy will head the mobility services sector, which is a new sector being created by combining the after-market sector, Mahindra Logistics and automotive mobility services. Consequent to these announcements, there will be further changes in the group corporate office as well as within the automotive and farm sectors, effective April 1, 2020.
These are as follows:
- Group Corporate Office (GCO): S. Durgashankar will have an enhanced role as Group Controller of Finance and Accounts. He will work closely with the CFOs of all group businesses to ensure appropriate controls and governance and will continue to oversee secretarial. He will report to Dr. Anish Shah.
- Automotive and Farm Sectors (AFS): Rajan Wadhera will retire and step down from his executive role as President – Automotive Sector.
- Hemant Sikka will head the farm equipment sector.
- Veejay Nakra will be appointed CEO of the automotive division. He will have operating responsibility for the passenger and commercial vehicles’ business with profit and loss accountability, except for the product development process.
- R. Velusamy will be appointed Chief of Global Product Development (Automotive).
- Vinod Sahay will be appointed Chief Purchase Officer of AFS.
- Rajeev Goyal will be appointed CFO of AFS.
- Rajeshwar Tripathi will be Chief Human Resources Officer for AFS. He will have dual reporting to Rajesh Jejurikar and Ruzbeh Irani.
- The agriculture sector business headed by Ashok Sharma will move from AFS and report to S. P. Shukla, who will also continue to head the aerospace, defence and steel sector, reporting to Dr. Anish Shah.