Mumbai, November, 11, 2016: Mahindra and Mahindra Limited (M&M) today announced that Mr. Anand
Mahindra, who currently holds the position of Chairman and Managing Director, is being designated as
Executive Chairman of the Company with Dr. Pawan Goenka being elevated to the position of Managing
Director. He will continue to report to Mr. Anand Mahindra and the Board of the Company.
This is in line with the practice followed by companies across the Mahindra Group, where the position of
Managing Director or CEO is distinct from that of the Chairman. Mr. Mahindra emphasized that as the
Executive Chairman of Mahindra & Mahindra he will continue to oversee, and be responsible for
shaping, the growth strategies of the Company and its portfolio of investments.
The organization structures and processes in M&M and in the Group Corporate Office have already been
aligned with this change over the past one year and there will be no change in the reporting relationships
of the Group Presidents / Presidents who head the other Sectors / Functions of the Group.
Announcing the appointment, Mr. 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".
Dr. Goenka joined Mahindra & Mahindra as General Manager R&D in 1993, after working for General
Motors Corp. in Detroit, USA for 14 years, and was instrumental in growing the R&D capability of
Mahindra and also the launch of the Scorpio SUV. He became President of the Automotive Sector in
2005, of AFS (Automotive and Farm Equipment Sectors) in 2010 and was appointed Executive Director
on the Board of Mahindra & Mahindra in 2013. Dr. Goenka has been actively involved with many
professional bodies such as CII, SIAM, SAE, ARAI and has been widely acclaimed for his technical work
and business leadership. Currently he also serves as the Chairman of the Board of Governors of IIT
Madras.
“I am humbled by my appointment as the Managing Director of Mahindra & Mahindra” said Dr. Goenka.
“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.”
