MUMBAI: Farm-to-Defence conglomerate Mahindra Group announced on Monday several senior leadership appointments and changes across its businesses.
Hemant Sikka, who is currently President of the farm equipment sector (FES), has been appointed as the managing director and CEO of Mahindra Logistics (MLL), and the current CEO, Ram Swaminathan has decided to step down to pursue other professional interests.
“We believe that MLL has tremendous potential for growth and value creation and are committed to realising this potential. Hemant is one of our top leaders and brings with him a powerful combination of strategic skills, operational rigor, customer centricity and people leadership capabilities,” said Mahindra Group in a statement.
Veejay Nakra, who is currently President Automotive Division, will be appointed as President of Farm Equipment Business (FEB), the Group’s large and profitable businesses with a return on capital employed (ROCE) of over 60%. Veejay will continue to report to Rajesh Jejurikar.
“There is a huge opportunity for us to grow the business profitably through tractors, farm machinery and globalization. He (Nakra) is very well poised to lead FEB into the future,” said Mahindra.
R Velusamy, who is currently, President Automotive Technology and Product Development, will be appointed as President of the Automotive Business (AB).
Mahindra said that to prepare for a future with technology innovation and lead opportunities for growth in domestic as well as global markets, they will now integrate the SUV and LCV (less than 3.5 tonne) business, under one leader.
The group added that Velu joined M&M in 1996 and after successfully creating world-class powertrains, he then has been instrumental in the development and successful launch of several ICE flagship products and Mahindra’s Electric Vehicle portfolio. Velu will also continue to report to Rajesh Jejurikar.
Anish Shah, Group CEO & Managing Director, M&M, said, “These eadership changes ensure that we have strong, proven leaders at the helm of our key businesses."
"Their experience will enable us to drive significant growth and create value for our customers and shareholders," he added.