Mahindra management reshuffle: Anish Shah to succeed Pawan Goenka as MD & CEO in 2021

Auto major Mahindra and Mahindra on Friday unveiled a major management reshuffle under which Anish Shah will be promoted to the role of managing director and chief executive-designate to succeed Pawan Goenka. Currently, Anish Shah is the group president (strategy) for the Mahindra Group and a member of the group executive board.

M&M in an exchange filing said that Anand Mahindra, the group chairman, would be stepping down from the post on 1 April, 2020. He will be the non-executive chairman of Mahindra & Mahindra Ltd. The company has appointed Pawan Kumar Goenka as the managing director of M&M with additional responsibilities as the new chief executive officer (CEO) for a year, effective 1 April, 2020.

Meanwhile, Anish Shah has been appointed as chief financial officer (CFO) till April 2021. After April 2, 2021, he will replace Goenka, who will retire after his term ends on 1 April, 2021, to assume charge as the MD and CEO of the company for a four-year period. His term will end 31 March, 2025.

Also Read: Anand Mahindra to step down next year; to become non-executive chairman of M&M

Anish's prior role was president and CEO of GE Capital India, where he led the transformation of the business, including a turnaround of its SBI Card joint venture. His career at GE spanned 14 years, during which he held several leadership positions at GE Capital's US and global units, as per information available on the company's website.

Anish holds a Ph.D from Carnegie Mellon's Tepper School of Business where his doctoral thesis was in the field of Corporate Governance. He also received a Masters degree from Carnegie Mellon and has a post-graduate diploma in Management from the Indian Institute of Management, Ahmedabad. He has received various scholarships, including the William Latimer Mellon Scholarship, Industry Scholarship at IIMA, National Talent Search and Sir Dorabji Tata Trust.

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Among other management changes, M&M's board has also approved the appointment of Rajesh Jejurikar, currently President - Farm Equipment Sector, as an additional director from April 1. While CP Gurnani has been appointed as an additional director from April 1, 2020. Besides, VS Parthasarathy is going to step down as CFO of the company with effect from 1 April, 2020, due to his transition to a new role.

Edited by Chitranjan Kumar