InvestorQ : Can you tell me about the latest top level management change at Mahindra & Mahindra?
Debbie Mascarenhas made post

Can you tell me about the latest top level management change at Mahindra & Mahindra?

Arti Chavan answered.
9 months ago

Mahindra and Mahindra announced the appointment of Mr. Anish Shah as the managing director and CEO of the company effective from 02 April. Effectively, Shah will oversee operations of all Mahindra Group companies along with the core automobile and tractor manufacturing businesses. Shah is currently the Deputy Managing Director and CFO of MYM and will be taking over the corner room from Pawan Goenka.

In December 2019, Anand Mahindra moved on to become the non-executive position after cross the age of 65. Meanwhile, Pawan Goenka, will retire as of the end of March and Rajesh Jejurikar would head the core farm and automobile businesses. Another claimant to the top job, V S Parthasarathy, had recently moved on from the company to pursue other entrepreneurial interests.

Anish Shah will take over at a time when the Indian economy has been on the throes of the COVID pandemic for over a year now. It has already taken its toll on overall operations of M&M and also its market share in the automobile business. Meanwhile, as part of internal restructuring M&M is looking to improve cash flows by hiving off less profitable businesses. It has decided to move out of Ssangyong Motors and also from the JV with Ford Motors.

To give a more futuristic twist to the business, the company has approved to subsume the electric vehicles manufacturing business into Mahindra and Mahindra Ltd. This is expected to bring more synergies in the future plans of M&M in the automobile segment which is likely to be greener in nature. With their focus on EVs, the company saw more sense in having EVs as part of the core and mainstream business.