Mahindra & Mahindra announces more management changes
23rd Dec 2019 1:09 pm
Rajan Wadhera to retire from role as president, automotive sector, from April 1, 2020; Veejay Nakra to be appointed CEO of auto division; farm sector to also get new head.
Mahindra & Mahindra has announced further changes in the Group Corporate Office as well as within the auto and farm sectors, effective April 1, 2020. The announcement comes just days after the company revealed its comprehensive top management succession plans on December 20.
Auto and Farm Sectors (AFS)
While 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, current head of sales and marketing, auto division, 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.
Hemant, Veejay, Velusamy and Vinod 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 Dr. Anish Shah.
Group Corporate Office
S Durgashankar will have an enhanced role as group controller of finance and accounts. He will work closely with the CFOs of all Group businesses to ensure appropriate controls and governance, and will continue to oversee Secretarial. He will report to Dr Anish Shah.
These appointments, according to the company, have been finalised under the guidance of the governance, nomination and remuneration committee of the board, and are designed to maintain continuity in change, while ensuring a smooth transition and maintaining the highest standards of corporate governance.