Known to be the third-generation scion of the diversified conglomerate, Anand Mahindra on Saturday shocked his ardent fans and the business world with his message on micro-blogging site Twitter. Revealing that he will be stepping down from his position next year. He also announced that he would be re-appointed as the role of a non-executive chairman of Mahindra and Mahindra Ltd. Anand Mahindra who is quite active on social media posted that his resignation was the part of the leadership transition plan which reflects the Group’s commitment to good governance. Followed by which the company rolled out an official statement that the decision was taken with the board’s approval in accordance with the SEBI guidelines.
Delighted to announce our leadership transition plan which reflects the Group’s commitment to good governance. I am grateful to the board & nominations committee for conducting a diligent & rigorous year-long process that will ensure a seamless transition https://t.co/iw34PPxmCg
— anand mahindra (@anandmahindra) December 20, 2019
“Re-designation of Pawan Kumar Goenka, managing director of the company as ‘managing director and chief executive officer with effect from April 1, 2020, till the end of his current term,” read the statement. The company also announced that Anish Shah will become the Managing Director and CEO of the company on April 2, 2021. After completing his MBA from Harvard Anand Mahindra joined Mahindra Ugine Steel Co. Ltd as an executive assistant in 1981. He took over as the chairman of the board and managing director of the Mahindra group from his uncle Keshub Mahindra in 2012.