Mahindra & Mahindra Limited (M&M) has reshuffled the top management in its automotive and farm equipments division, days after announcing rejig in its corporate office. Rajan Wadhera, who has been serving as the president of Mahindra’s automotive division, is set to retire and step down on April 1, 2020, from an executive role. He will be succeeded by Veejay Nakra, who has been appointed as CEO of Auto Division. “He will have operating responsibility for passenger vehicles and entire commercial vehicle business with Profit & Loss accountability, except for product development Process,” the company said at a statement.
Other top appointments are of Hemant Sikka and R Velusamy. Sikka will head the farm equipment sector, while Velusamy would be appointed as the chief of global product development (Automotive). Vinod Sahay will be appointed as the chief purchase officer of AFS (auto and farm sectors).
Nakra, Sikka, Velusamy and Sahay will report to Rajesh Jejurikar, who will join M&M Board as Executive Director AFS from April 1, 2020. Further, Rajeev Goyal has been appointed as CFO of AFS. He will report to both Jejurikar and S Durgashankar, who will have an enhanced role as group controller of finance and accounts working closely with CFOs of all group businesses.
Over the next fifteen months, senior leaders at Mahindra & Mahindra will be retiring. Last week, the company had announced that Anand Mahindra will transition to the role of non-executive chairman of the board of Mahindra & Mahindra with effect from April 1, 2020, while Pawan Goenka will be re-designated as MD and CEO with effect from April 1 2020 till his retirement a year later.
Among other changes, Anish Shah will join M&M Ltd. Board on April 1, 2020, as deputy MD and Group CFO. He will also be appointed managing director and CEO a year later. Rajesh Jejurikar will join the M&M Board as executive director (auto and farm sectors), and C P Gurnani, MD & CEO of Tech Mahindra Ltd. will join the M&M Board as a non-executive Director, the company said in a statement.