Mahindra Group announced today that Dr.Pawan Goenka will retire as the Managing Director and Chief Executive Officer, as well as Member of the Board of Directors of the company with effect from April 2, 2021. Pawan Goenka will be replaced by Anish Shah who is the current Deputy Managing Director and Group Chief Financial Officer at M&M from April 2.
M&M informed in a BSE filing that, "We wish to inform you that Pawan Goenka would cease to be the Managing Director and Chief Executive Officer as well as Member of the Board of Directors of the Company with effect from 2nd April 2021,".
Dr. Goenka has worked for Mahindra Group for more than 27 years. He joined Mahindra in 1993 as General Manager (R&D). During his tenure, he spearheaded the development of the Scorpio SUV.
He was appointed COO (Automotive Sector) in April 2003, President (Automotive Sector) in September 2005, President (Automotive & Farm Equipment Sectors) in April 2010, Executive Director and Group President (AFS) in April 2015, Managing Director of Mahindra & Mahindra Ltd in November 2016. Since April 1, 2020, he has been serving as Managing Director & CEO. Goenka is also a member of the Group Executive Board and serves on the board of several Mahindra Group Companies.
Dr. Goenka is going to be replaced by Anish Shah. Anish had joined Mahindra in 2015 as the Group President Strategy. Prior to joining Mahindra, Mr.Shah was President and CEO of GE Capital India. His career at GE spanned 14 years, during which he held several leadership positions at GE Capital's US and global units. Shah received a Ph.D. from Carnegie Mellon's Tepper School of Business, a Masters degree from Carnegie Mellon, and a post-graduate diploma in Management from the IIM Ahmedabad.
Commenting on his appointment, Dr. Anish Shah said, “I am humbled and deeply honored to lead the Mahindra Group, an extraordinary organization whose real wealth lies in its people who embody its core values and live its purpose every day. I look forward to working closely with Anand and all my colleagues to write a new chapter of growth and to drive positive change in the lives of our stakeholders to enable them to Rise.”