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The board of Mahindra and Mahindra (M&M) Ltd has unanimously appointed Mr Anand Mahindra as Chairman and Managing Director of the company with effect from the conclusion of the AGM scheduled on August 8, 2012.
The appointment comes in the wake of the present Chairman, Mr Keshub Mahindra, expressing his wish to retire. The board has requested him to accept the position of Chairman Emeritus.
Mr Keshub Mahindra joined the board in 1948 and was elected Chairman in 1963. During his tenure, the Mahindra Group grew from a manufacturer of automobiles to a federation of companies operating in a range of businesses which includes automobiles, tractors, auto components, IT, real estate, financial services and hospitality.
Over the years he successfully created business alliances with global majors such as the Willys Corporation, Mitsubishi, International Harvester, United Technologies, British Telecom and many others, laying the foundation for the emergence of the Group as an Indian multinational.
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