Mahindra and Mahindra Ltd (M&M) announced a fresh reshuffle of its leadership team as the utility vehicle and tractor maker complies with the new rules of the Securities and Exchange Board of India (Sebi) and as senior managers attain superannuation.
Group Corporate Office (GCO):
S. Durgashankar will have an enhanced role as Group Controller of Finance and Accounts. He will work closely with the CFOs of all Group businesses to ensure appropriate controls and governance and will continue to oversee Secretarial. He will report to Dr. Anish Shah.
Auto and Farm Sectors (AFS):
Rajan Wadhera will retire and step down from his executive role as President Auto Sector.
Hemant Sikka will Head the Farm Equipment Sector.
Veejay Nakra will be appointed CEO of Auto Division. He will have operating responsibility for PV and entire CV business with P&L accountability, except for the Product Development Process.
R. Velusamy will be appointed Chief of Global Product Development (Automotive).
Vinod Sahay will be appointed as Chief Purchase Officer of AFS.
Hemant, Veejay, Velusamy and Vinod will report to Rajesh Jejurikar.
Rajeev Goyal will be appointed as CFO of AFS. He will have dual reporting to Rajesh Jejurikar and Durgashankar.
Rajeshwar Tripathi will be the Chief Human Resources Officer for AFS. He will have dual reporting to Rajesh Jejurikar and Ruzbeh Irani.
The Agri-business headed by Ashok Sharma will move from AFS and report to S. P. Shukla, who will also continue to head the Aerospace, Defence & Steel Sector, reporting to Dr. Anish Shah.
These appointments have been finalized under the guidance of the Governance, Nomination & Remuneration Committee of the Board, and are designed to maintain continuity in change while ensuring a smooth transition and maintaining the highest standards of corporate governance, M&M said in copmany statement.
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