Companies

M&M announces more leadership changes

Our Bureau Mumbai | Updated on December 23, 2019 Published on December 23, 2019

Close on the heels of Mahindra & Mahindra’s announcement last week about Anand Mahindra stepping down as the chairman of the company and other key changes; it announced further changes today in its group corporate office and within its auto and farm sectors, effective from April 1, 2020.

In its Group Corporate Office (GCO), S Durgashankar will have an enhanced role as Group Controller of Finance and Accounts, M&M said in a statement.

He will work closely with the CFOs of all group businesses to ensure appropriate controls and governance and will continue to oversee secretarial, it said. He will report to Anish Shah, who will transition to Managing Director and CEO on April 2, 2021.

Read also: Anand Mahindra to step down as Chairman of M&M from April 1 next

In the Auto and Farm Sectors (AFS), Rajan Wadhera will retire and step down from his executive role as President Auto Sector. Hemant Sikka will head the Farm Equipment Sector.

Veejay Nakra will be appointed CEO of Auto Division. He will have operating responsibility for PV and entire CV business with P&L accountability, except for the product development process. R Velusamy will be appointed Chief of Global Product Development (Automotive). Vinod Sahay will be appointed as Chief Purchase Officer of AFS.

Sikka, Nakra, Velusamy and Sahay will report to Rajesh Jejurikar.

Rajeev Goyal will be appointed as CFO of AFS. He will have dual reporting to Rajesh Jejurikar and Durgashankar. Rajeshwar Tripathi will be the Chief Human Resources Officer for AFS. He will have dual reporting to Rajesh Jejurikar and Ruzbeh Irani.

The Agri-business headed by Ashok Sharma will move from AFS and report to S P Shukla, who will also continue to head the Aerospace, Defence and Steel Sector, reporting to Anish Shah.

Published on December 23, 2019
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