Anand Mahindra to step down as Mahindra group executive chairman, catch full details

In the latest news, Businessman Anand Mahindra will step down as the Mahindra Group Executive Chairman with effect from April 1, 2020. Mahindra will make the transition to the role of Non-Executive Chairman, the company added in a statement.

“With effect from 1st April 2020, Mr. Anand Mahindra will transition to the role of Non-Executive Chairman of the Board of Mahindra & Mahindra Ltd. This is in accordance with the SEBI guidelines,” the company’s statement read.

Anand Mahindra Credits: Free Press Journal

“Delighted to announce our leadership transition plan which reflects the Group’s commitment to good governance. I am grateful to the board & nominations committee for conducting a diligent & rigorous year-long process that will ensure a seamless transition,” Anand Mahindra tweeted.

The company explained everything in detail that the 64-year old will be extending his services as a mentor and sounding board for the Managing Director on issues to be presented to the Board, especially in areas of strategic planning, risk mitigation and external interface.

Moreover, he will be available to provide feedback and counsel to the Managing Director on important issues facing the enterprise.

The statement also added that Pawan Goenka will be re-designated as the Managing Director and CEO with effect from April 1, 2020, and will work in this new role for a year till his retirement on April 1, 2021.