Nation mourns Ratan Tata; tributes pour in from political and business leaders
Leaders from across the political and business spectrum paid their tributes to industrialist Ratan Tata, who passed away peacefully on Wednesday, October 9, 2024.
Mahindra Group on Friday announced that it’s Executive Chairman Anand Mahindra will step down from its position from April 1, 2020.
The company said that the decision was taken in accordance with the Sebi guidelines.
“With effect from April 1, 2020, Mahindra will transition to the role of Non-Executive Chairman of the board of Mahindra & Mahindra. This is in accordance with the Sebi guidelines,” the group said in a statement.
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“As non-executive chairman, Mahindra will serve as a mentor and sounding board for the Managing Director on issues to be presented to the Board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the Managing Director on key issues facing the enterprise,” lthe statement added.
Meanwhile, Pawan Goenka will be re-designated as Managing Director and Chief Executive from April 1.
“There will be no change in any reporting relationships as a result of this re-designation. He will retire on 1st April 2021. Goenka will continue to retain direct responsibility of Ssangyong Motors as Chairman of its Board till his retirement date,” the company said.
Among other decisions, company has also said that Anish Shah will become the Managing Director and CEO of the company on April 2, 2021, with full oversight of all group businesses for a period of four years till March 31, 2025.
(With input from agencies)
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