Mahindra & Mahindra (M&M) on Friday (December 20) announced a rejig of its top management with Anand Mahindra, 64, transiting to the role of non-executive chairman from the executive chairman, effective 1 April 2020.
In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of the chief executive officer (CEO) for a year, effective 1 April 2020.
The company has created the CEO position as it aims to implement its plans around electric mobility and capitalise on the synergies with Ford India operations in the near future.
Further, Anish Shah will transition to become Managing Director and CEO on April 2, 2021, replacing Goenka, who will retire after his term ends. Shah will join the M&M board as Deputy Managing Director and Group CFO, replacing VS Parthasarathy, the current CFO.
Parthasarathy will head the mobility services sector, which is a new sector being created by combining the after-market sector, Mahindra Logistics, and AutoMobility Services.
(With input from agencies.)