The board of directors of Mahindra and Mahindra (M&M) has appointed Anish Shah as the Managing Director and CEO of the company. His appointment is effective from 2nd April.
Shah is currently the deputy MD and group CFO. The move stems from the top management succession plan announced by the conglomerate group last December. As Anand Mahindra transitions to the role of non-executive chairman in November, Shah will become the first professional MD and CEO in the history of the Mahindra group to oversee the entire business of the group.
In addition, Pawan Goenka who was managing the automobile and farm equipment businesses of the company will retire as the MD and CEO, and member of the Board of directors of M&M with effect from April 2. Rajesh Jejurikar, Executive Director, will take full charge of these segments and will report to Shah.
Anand Mahindra, Chairman, Mahindra group said in a statement, “Anish is the right leader for the Mahindra Group. As the MD and CEO, he will have complete oversight of all Mahindra Group businesses including our Global operations, the transformation agenda and, synergizing and driving several strategic programs.”
“On behalf of the Board, I salute the work accomplished by Pawan throughout his twenty-seven years career in the company, which has resulted in its strong growth. My gratitude to him for making the transition as smooth and seamless as possible throughout the last year,” he added.