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Home / Companies / News /  Mahindra appoints Anish Shah as the MD and CEO, effective from April 2

Mumbai based conglomerate, Mahindra and Mahindra Ltd on Thursday announced the appointment of Anish Shah, as the managing director and chief executive, effective from April 2, 2021. Shah will oversee operations of all Mahindra Group companies along with the bread-and-butter automobile and tractor manufacturing businesses and will take over from Pawan Goenka.

He is currently serving as the deputy managing director and chief financial officer of Mahindra.

In December 2019, the Mumbai based company announced major changes in the top management which included chairman, Anand Mahindra, moving on to a non-executive positive position. Pawan Goenka, after three decades of association with the company will hang his boots while, Rajesh Jejurikar would replace him as a head of farm and automobile businesses of the company.

“One of the reasons we had succeeded and thrived over the past 75 years was that we were good at introducing change in the right measure at the right time. Anish is the right leader for the Mahindra Group. As the MD and CEO, he will have a complete oversight of all Mahindra Group businesses including our global operations, the transformation agenda and, synergizing and driving several strategic programs," said Anand Mahindra, chairman, Mahindra Group in a statement.

He further added that Anish embodies the spirit of Rise and brings an exceptional leadership track record, strong international exposure and a unique ability to forge long-standing relationships with the company’s customers, partners and employees.

Anish Shah will take over the reins of Mumbai based conglomerate at time when the ongoing Covid-19 pandemic has taken a toll on overall operations and its market share in the automobile business has been under pressure due to increased competition.

To improve its profitability and increase cash flows, Mahindra has been looking to sell its less profitable businesses in the past one year. The company has decided to sell its majority stake in Ssangyong Motor Co, a South Korean vehicle maker, and pulled out of a joint venture with American vehicle manufacturer, Ford Motor Co to conserve cash.

Prior to joining Mahindra, Anish Shah was president and chief executive of GE Capital India, where he led the transformation of the business, including a turnaround of its SBI Card joint venture, the company said in a statement.

In a separate announcement, Mahindra’s board also gave an in-principle approval to subsume electric vehicle manufacturing business known as Mahindra Electric Mobility Ltd into Mahindra and Mahindra Ltd. According to the company this consolidation would lead to division of the electric business in to two categories Last Mile Mobilty and Electric Vehicle Tech Centre.

“Electric vehicles will be the future of the automotive business. To be future ready, we believe that the EVs should be part of the core and mainstream business. This intent to consolidate is a part of our EV strategy which aims to electrify various segments that will popularise e-mobility. We will continue to draw upon our deep understanding of customer needs to bring in exciting new products in the EV space," said Rajesh Jejurikar, executive director, Mahindra and Mahindra Ltd.

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