M&M Executive Rejig: Anand Mahindra To Step Down As Group Executive Chairman

Mahindra and Mahindra Limited on Thursday informed the stock exchange of its Governance, Nomination and Remuneration Committee's recommendation to a structured and comprehensive succession-planning program to rejig the senior management and board.

• With approval from the board of directors at the meeting held on 20 December, Anand Mahindra will transition to the role of non-executive chairman from executive chairman with effect from 1 April 2020.
• Dr Pawan Kumar Goenka will be re-designated as Managing Director (MD) and Chief Executive Officer (CEO) from 1 April 2020 to 1 April 2021.
• Dr Anish Shah, the current Group President (Strategy) will act as the Chief Financial Officer (CFO) of the company and Group and Deputy Managing Director from 1 April 2020 to 1 April 2021. He will be designated as the Managing Director of the Company and Chief Executive Officer from April 2021 to March 2025.
• Rajesh Jejurikar, the current President (Farm Equipment Sector) will hold the position as a whole-time Director of the company designated as 'Executive Director (Automotive and Farm Sectors)' for a period of five years from 1 April 2020 to 31 March 2025.
• CP Gurnani will be Non-Executive, Non-Independent Director.
• Shah, Jejurikar and Gurnani will be appointed as additional directors of Mahindra and Mahindra from 1 April 2020 to the date of the next Annual General Meeting of the Company.
• V S Parthasarathy will be moved to a new undisclosed role from 1 April 2020.