News: Mahindra Group CFO to step down in November

#Updates

Mahindra Group CFO to step down in November

There is a whiff of change in the house of Mahindras, where steps may be afoot for senior-level management changes signalling a new era, similar to the events in the Tatas, where the exit of Ratan Tata and the induction of Cyrus Mistry led to a new executive council, a Hindustan Times report said.

After a stint spanning over four decades, chief financial officer of the Mahindra Group, Bharat Doshi, has decided to step down in November this year, advancing his retirement by 18 months. Mahindra has not announced a successor yet. Industry watchers say this could be a precursor to a younger, vibrant set of executives raising their profiles in the group.

Doshi, who will turn 64 next month, joined the $16.2 billion (R8,74,800 crore) conglomerate back in 1973 and has requested the company to relieve him of his duties in 6 months as he wanted to devote more time to his personal life. He became the group CFO in 2007 and was due to retire in March 2015.

Read the full report here

Topics: #Updates, C-Suite

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