Mahindra & Mahindra Group rejigs leadership team
Mahindra & Mahindra Limited (M&M) has announced a major rejig of leadership roles last week this month. The company has announced that VS Parthasarathy, the president of its Mobility Services Sector and Member of the Group Executive Board, has resigned from the group effective close to April 1, 2021, to pursue personal interests.
According to M&M said in a regulatory filing, “Parthasarathy who joined the Mahindra group in 2000 and began with an HR stint, has expressed a desire to leverage his rich professional experience to consult, mentor, build and scale businesses and initiatives across business, education, and society in the next phase of his career.”
Mahindra Logistics announced the appointment of Dr. Anish Shah as the Chairman of the Board, effective April 2, 2021. Dr. Shah will join the Board of Directors of the Company on the same date. Currently, he is the Deputy Managing Director and Group CFO of Mahindra & Mahindra (M&M) Limited. He is designated to take over as the Managing Director and CEO of M&M Limited from April 2, 2021.
Parthasarathy will resign from the Board of Mahindra Logistics Limited (MLL) with effect from April 2, 2021. And Dr. Shah will take over as Chairman of the MLL Board with effect from April 2, 2021.
Mahindra Finance, part of the Mahindra Group, has announced the appointment of Amit Raje as a Whole-time Director of the Company, designated as Chief Operating Officer Digital Finance – Digital Business Unit with effect from April 1, 2021. He will report to Ramesh Iyer, Vice Chairman & Managing Director, Mahindra Finance.
With over 700 million active internet users, India has the 2nd highest digital population globally. Notably, rural India constitutes a substantial section of this user base. Mahindra Finance, India’s largest rural NBFC, with a customer base spread across 4 lakh villages, acknowledged these shifts and embarked on a digital transformation journey a few years ago, in order to design and develop products and solutions to service the digitally savvy rural customers and broaden the horizons of financial inclusion in the country.
Amit’s appointment as COO of the Digital Business Unit is a step towards leveraging this significant opportunity.