Mahindra Group on Friday announced that Pawan K Goenka will retire as Managing Director and Chief Executive Officer, as well as Member of the Board of Directors of the company, with effect from April 2, 2021.
Goenka will be replaced by Dr Anish Shah, who is currently the Deputy Managing Director and Group Chief Financial Officer at Mahindra & Mahindra, from April 2. In November, when Chairman Anand Mahindra transitions to the role of Non-Executive Chairman, Shah will become the first professional MD and CEO in the history of the Mahindra Group to have a complete oversight of and responsibility for the Mahindra Group businesses.
"We wish to inform you that he (Pawan Goenka) would cease to be the Managing Director and Chief Executive Officer as well as Member of the Board of Directors of the Company with effect from 2nd April 2021," Mahindra & Mahindra informed in a BSE filing.
Goenka has worked for Mahindra Group for more than 27 years. He has been leading the company's Automotive Business since September 2005. Goenka joined Mahindra & Mahindra in 1993 as General Manager (R&D). During his R&D tenure, he led the development of the Scorpio SUV. He was appointed COO (Automotive Sector) in April 2003, President (Automotive Sector) in September 2005, President (Automotive & Farm Equipment Sectors) in April 2010, Executive Director and Group President (AFS) in April 2015, Managing Director of Mahindra & Mahindra Ltd in November 2016. Since April 1, 2020, he has been serving as Managing Director & CEO. Goenka is also a member of the Group Executive Board and serves on the board of several Mahindra Group Companies.
In his role as the MD and CEO, Goenka had an oversight of Automobile and Farm Equipment sectors. Rajesh Jejurikar, Executive Director, will take full charge of these sectors and will report to Shah.
Goenka earned his BTech in Mechanical Engineering from IIT Kanpur and PhD from Cornell University, USA. He is also a graduate of the Advanced Management Programme from Harvard Business School. He worked at the General Motors R&D Centre in Detroit, USA, from 1979 to 1993.
About Anish Shah-the next MD & CEO of Mahindra & Mahindra Ltd
Anish Shah joined Mahindra in 2015 as the Group President -Strategy, where he led strategy development; built capabilities such as digitisation and data sciences; enabled synergies across Group companies and managed the Risk and performance review organisations.
"As the MD and CEO, he will have a complete oversight of all Mahindra Group businesses including our Global operations, the transformation agenda and, synergising and driving several strategic programmes," said Mahindra group Chairman Anand Mahindra highlighting the role Shah will play as the new MD and CEO.
Prior to joining Mahindra, Shah was President and CEO of GE Capital India. His career at GE spanned 14 years, during which he held several leadership positions at GE Capital's US and global units. Shah received a PhD from Carnegie Mellon's Tepper School of Business, a Masters degree from Carnegie Mellon and a post-graduate diploma in Management from the IIM Ahmedabad.