The Hindu Business Line : M&M Executive Director resigns

NEW DELHI: Mahindra & Mahindra on Friday said its Executive Director Mr Arun Nanda has stepped down, although he will continue to be associated with the group as a non-executive director.

Mr Nanda will also continue as the Chairman of Club Mahindra and Mahindra Consulting Engineers and take over from Mr Anand Mahindra as the Chairman of Mahindra Lifespaces, M&M said in a statement.

The company said Mr Nanda’s re-definition of role was due to his wishes to pursue his interest in social sector.

He will retain his multifarious board positions in a non-executive capacity and will commit a substantial portion of his time to provide continued guidance to the leadership of group companies, including Mahindra Holidays and Resorts India, and Mahindra Lifespace Developers Ltd, the statement added.

Mr Nanda has been with M&M for 36 years and played key role in the group’s expansion, especially in overseas markets. — PTI

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