Anand Mahindra to step down as Group Chairman next year

Anand Mahindra will step down as the Mahindra and Mahindra Group Chairman from April 1, 2020, the company said in a BSE filing.

The decision was taken based on the recommendations of the Governance, Nomination and Remuneration Committee, the Board of Directors of the Company, at a meeting held on December 20, 2019. In the meeting, the board considered and approved the transition of Anand Mahindra, Executive Chairman to the role of Non-Executive Chairman with effect from April 1, 2020.

The Board also approved changes in the Directors and Key Managerial Personnel of the Company. Pawan Kumar Goenka, Managing Director of the Company will take charge as the Managing Director and Chief Executive Officer with effect from April 1, 2020, till the end of his current term up to November 11, 2020. He will be re-appointed to the post in November and will remain the CEO till April 1, 2021.

According to the filing, Anish Shah, currently the Group President (Strategy), will take charge as the Managing Director of the Company designated as Managing Director and Chief Executive Officer for a period commencing from April 2, 2021.