Anand Mahindra can assume a non-executive role

CHENNAI Mahindra Group President Anand Mahindra will step down from his executive role to become a non-executive President over the next two quarters, as the group prepares itself for succession across several companies. Under new Sebi norms, the top 500 listed entities will have to ensure that the chairperson is a non-executive director from April 1, 2020. It will eventually lead to a split in the post of President and managing director. Anand Mahindra turns 65 next May.

Lo más probable es que asuma el cargo de President no ejecutivo, confirmaron a TOI las principales fuentes de Mu0026M. El grupo anunciará una serie de cambios en varios puestos de alto nivel a medida que varios gerentes lleguen al límite de edad en las próximas cuatro a seis semanas.

“Its entire brass, starting with President Anand Mahindra to MD Pawan Goenka to group president (HR) Rajeev Dubey and others, are due for retirement in 12-18 months,” sources said. Also due for retirement is Rajan Wadhera, currently president of the auto sector at M&M.

Mahindra may take on non-exec roleMahindra may take on non-exec role

The $20.7-billion Mahindra Group is embarking on its most ambitious succession transition since Anand Mahindra took over the reins from his uncle Keshub Mahindra. According to the plans, the changes will likely come into effect from January 2020 and all new candidates will go through a three-month orientation, after which they will take over their new roles from March 2020, before the retirements begin, said a senior source in the group.

When contacted, Dubey said: “A succession and transition planning exercise is underway and a subcommittee under the Mu0026M board is working on it in a structured manner so that the transition is smooth and well thought out. The announcements will arrive well in advance of the withdrawal date and there will be a waiting period for the successor. ”

The subcommittee working on the transition is under the government nomination and remuneration committee (GNRC) of the Mu0026M board. Several names are making rounds as possible successors, although Dubey remained with tight lips on the list. This includes the current head of the agricultural equipment sector (FES) Rajesh Jejurikar assuming the position of CEO of Mahindra Ford. Sources say that two names are in the fray as head of the tractor division: the current chief financial officer of Group V, Parthasarathy, and the president, Hemant Sikka.

Después de Wadhera, que obtuvo una extensión hasta septiembre de 2020, la división de automóviles puede estar dirigida por Vinod Sahay, actualmente CEO de la división de autobuses y camiones. Si Sahay se muda a la división de automóviles, el negocio de camiones y autobuses puede estar dirigido por Ashok Sharma, actualmente President del sector agropecuario.

En cuanto al papel de Dubey, después de su retiro en marzo de 2020, el rumor es que su sucesor será Ruzbeh Irani, actualmente President de comunicaciones de grupo y director de marca. La estrategia del President del grupo, Anish Shah, se promociona para asumir el cargo de MD - oficina corporativa del grupo, dicen las fuentes. Sin embargo, la lista final puede cambiar ya que algunos de los nombres no se han congelado, dijo un alto funcionario de Mu0026M. La idea, dijo Dubey, es establecer una plantilla para la sucesión que sea profesional y estructurada.

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