Friday, December 20, 2019

Anand Mahindra will no longer head Mahindra from April, will be non-executive chairman

Anand Mahindra, chairman of the Mahindra & Mahindra group, will step down from the top post of the company from April next year and will become the non-executive chairman. According to the announcement made by the company on Friday, from April 1, 2020, Anand will not be the chairman of the Mahindra Group.

The company has told in the information given to the stock exchanges that after this, the managing director of the company Pawan Goenka will hold the additional charge of the post till his term till 11 November 2020.

CMD of the group was formed in 2012

In August 2012, Anand Mahindra was made the Chairman and Managing Director of the Mahindra Group. After this, in November 2016, he was appointed Executive Chairman of Mahindra & Mahindra Limited. He was also the co-promoter of Kotak Mahindra Bank.

What did the company say

The company said in its statement, 'According to the succession plans by the Governance, Nomination and Remuneration Committee (GNRC), from April 1, 2020, Anand Mahindra will be in the role of non-executive chairman and his new designation will be effective from that date. Will happen.'

Apart from this, the company has appointed Aneesh Shah as Chief Financial Officer (CFO) till April 2021. After April 2, 2021, he will become the MD and CEO of the company in place of Goenka, his term will be for four years. His term will be till 31 March 2025.