Mahindra & Mahindra announced that, Dr Pawan Goenka who currently holds Executive Director position, will be promoted to Managing Director, and Anand Mahindra is going be the Executive Chairman. Dr Goenka currently serves as the President for M&M’s automotive division as well.
The IIT Kanpur grad Pawan Goenka joined M&M in October 1993 as the General Manager of R&D. He was then appointed as the Chief Operating Officer for the automotive division in April 2003, and in September 2005, he became the President of the automotive division. By April 2010 he was the President of the Farm Equipment division as well, before taking over as the Executive Director of Mahindra & Mahindra in 2013. In 2014 he was handling the two wheeler business as well.
“The promotion is in line with the practice followed by companies across the Mahindra Group, where the position of MD/CEO is distinct from that of the chairman and that Mahindra as the executive chairman will continue to oversee, and be responsible for shaping, the growth strategies of the company and its portfolio of investments,” said a statement.
Anand Mahindra said “Pawan has played a major role in M&M’s meteoric growth in the post liberalization era. His elevation as MD is a fitting recognition not only of his vast experience and domain knowledge in the mobility space and his many past achievements, but also of the eminent role that he currently plays in the Company.”
“I am humbled by my appointment as the Managing Director of Mahindra & Mahindra. When I joined the Group 23 years ago, I could never have imagined that one day I would be entrusted with this responsibility by the Board of the Company. I am sure that with the guidance of the Executive Chairman and the Board, and the support of my colleagues, this Company will continue on the growth path that we have witnessed over the last decade and a half,” said Goenka.
Dr Goenka currently serves as National Council member of CII, and Chairman of Board of Governors of IIT Madras as well.
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