After more than two decades with the Mahindra and Mahindra Group, Pawan Goenka will hang up his boots as Managing Director and Chief Executive Officer from April.

Anish Shah, now Deputy MD and Group CFO, will take over the mantle of the auto major, by assuming the role of MD-CEO from April 2.

M&M also named Manoj Bhat as the Group Chief Financial Officer from April 2. Manoj Bhat will report to Anish Shah and will be a part of the Group Corporate Office Leadership Team, the company said in a regulatory filing. The Group had recently appointed Amit Sinha as President, Group Strategy.

Bhat moves to the Mahindra Group from Tech Mahindra where he has been the CFO since June 2018, responsible for the Finance and Secretarial functions across 160 subsidiaries and over 90 countries. Associated with Tech Mahindra since 2006, heplayed a key role in the IT major’s growth initiatives including being acquisition and integration of Mahindra Satyam and the 2006 IPO.

“Manoj will be a strong partner as we execute our transformational plan and improve our operating results to position Mahindra for sustainable, long-term value creation,” said Shah.

Tech Mahindra has appointed Milind Kulkarni as its Chief Financial Officer. Kulkarni has been associated with Tech Mahindra since 2002.

He was Tech Mahindra CFO till May 2018.

The rejig comes at a time when the company is facing several headwinds including a weak automobile market in India and some of its international bets going awry.

Goenka has led the group through many a storm since 2019 after Anand Mahindra stepped down as the Executive Chairman. Goenka joined M&M as General Manager (R&D) after 14 years with General Motors’ R&D Centre in Detroit, US. He led the development of the Scorpio SUV.