Pawan Goenka, the President for automotive division and Group Executive Director becomes the Group Managing Director while Anand Mahindra, Group Chairman and
Managing Director is promoted as the Executive Chairman.
Mahindra and Mahindra on Friday revamped its top deck by elevating Pawan Goenka as group managing director while redesignating Anand Mahindra as executive chairman.
Mahidra currently is the group chairman and managing director while Goenka is president for automotive division and group executive director. The company said Goenka as well as all other MDs/CEOs/presidents will continue to report to group chairman and will also continue to look at the automotive business. "The promotion is in line with the practice followed by companies across the Mahindra Group, where the position of MD/CEO is distinct from that of the chairman and that Mahindra as the executive chairman will continue to oversee, and be responsible for shaping, the growth strategies of the company and its portfolio of investments," it said a statement.
"Pawan has played a major role in M&M's growth in the post-liberalisation era. His elevation as MD is a fitting recognition not only of his vast experience and domain knowledge in the mobility space and his many past achievements, but also of the eminent role that he currently plays in the company," Mahindra said. Goenka joined Mahindra as general manager, R&D in 1993, after working for General Motors in Detroit for 14 years and was instrumental in growing its R&D capability and also the launch of its flagship Scorpio.
He was elevated as president of the automotive division in 2005, head of automotive and farm equipment vertical in 2010 and as executive director on the board in 2013. Goenka is also on the board of governors of IIT Madras as the chairman. Commenting on his elevation, Goenka said he was humbled by the move. "When I joined the group 23 years ago, I could never have imagined that one day I would be entrusted with this responsibility," he said.
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