According to a CNBC report, Mahindra & Mahindra is likely to announce major leadership changes after the company’s board meeting on November 8 or in December. These changes could take effect over the next six months.
34 top executives of Mahindra & Mahindra, under the age of 53, have gone through a future leadership program in order to be prepared for future roles. These names included Anish Shah, Rajesh Jejurikar, Ashok Sharma, Hemant Sikka, Vinod Sahay, and others.
Rajeev Dubey, Group President – HR at M&M, said that a transition plan is underway.
“The Mahindra group has a very robust and active talent management process which looks at succession planning and leadership development across businesses and functions, and as a consequence, we have a very good line of vision to the leadership pipeline at all levels, including at the very top,” Rajeev added.
Mahindra Group’s Chairman Anand Mahindra may step down from his current role and transition to a non-executive role over the next two quarters. The report also says, Pawan Goenka, Managing Director, who retires on November 11, 2020, may get a further extension. Rajan Wadhera, President of the auto sector at M&M, and Rajeev Dubey, Group President – HR are slated to retire in March 2020.
Anish Shah, Group President – Strategy, and currently one of the youngest members of the Mahindra group executive board, may take over from Goenka after a transition period.
Likewise, Hemant Sikka, who is heading the Power and Spares business, could be appointed as the president of the Farm Equipment Vertical.
And similarly, After Rajan Wadhera, the auto division may be headed by Vinod Sahay, currently CEO of bus and truck division.
Rajeev Dubey’s role, after his retirement in March 2020, the buzz is that his successor will be Ruzbeh Irani, currently President – Group Communications and Chief Brand Officer., TOI reports.