Mahindra & Mahindra board has appointed Anish Shah as the next managing director and chief executive officer of Mahindra Group, the company said in a statement issued on March 26. Shah would takeover as the MD and CEO from April 2, 2021.
Shah would become the first official in Mahindra Group to have complete oversight of the tractor-to-technology firm from November, when Anand Mahindra - the current chairman - would transition to the role of non-executive chairman.
Pawan Goenka, the current MD and CEO of Mahindra Group, would retire on April 2 - the day when Shah would succeed him. Goenka's role as Executive Director of Automotive and Farm sectors would be taken over by Rajesh Jejurikar, the company said.
"On behalf of the Board, I salute the work accomplished by Pawan throughout his 27 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," an official release quoted Anand Mahindra as saying.
“One of the reasons we had succeeded and thrived over the past 75 years was that we were good at introducing changes in the right measure at the right time,” said Mahindra, adding that Shah is the right leader for the Mahindra Group.
Shah, on his elevation as the MD and CEO, said he was "humbled and deeply honored to lead the Mahindra Group".
"I look forward to working closely with Anand and all my colleagues to write a new chapter of growth and to drive positive change in the lives of our stakeholders to enable them to rise," the company's statement quoted him as saying.
Shah is currently the deputy managing director and group CFO of Mahindra Group. On January 29, he was appointed as the chairman of Mahindra Finance. Subsequently, on March 8, he was also announced as the next chairman of Mahindra Logistics.