Anish Shah to take over as M&M's Managing Director, CEO

Mahindra & Mahindra (M&M) on Friday said its current Deputy Managing Director and Group Chief Financial Officer Anish Shah will take over as the Managing Director and Chief Executive Officer from April 2, 2021. He succeeds Pawan Goenka, who will retire as the MD and CEO, and Member of the Board of Directors of M&M Ltd on April 2, 2021. M&M had on December 20, 2019, announced a top management succession.

In November, when Anand Mahindra transitions to the role of Non-Executive Chairman, Shah will become the first professional MD and CEO in the history of the Mahindra Group to have a complete oversight of and responsibility for the Mahindra Group businesses, the company said in a statement.

Commenting on the transition, M&M Group Chairman Anand Mahindra said,"One of the reasons we had succeeded and thrived over the past 75 years was that we were good at introducing change in the right measure at the right time."

He further said,"Anish is the right leader for the Mahindra Group. As the MD and CEO, he will have a complete oversight of all Mahindra Group businesses including our Global operations, the transformation agenda and, synergizing and driving several strategic programs."

Shah had joined Mahindra in 2015 as the Group President -Strategy, where he led strategy development; built capabilities such as digitisation and data sciences; enabled synergies across Group companies and managed the risk and performance review of organisations.

Prior to joining Mahindra, he was President and CEO of GE Capital India, where he led the transformation of the business, including a turnaround of its SBI Card joint venture. His career at GE spanned 14 years, during which he held several leadership positions at the company's US and global units, M&M said.

He has also led Bank of America's US Debit Products business. He started his career with Citibank in Mumbai before moving to Boston with Bain & Company as a strategy consultant.