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.
After Anand Gopal Mahindra announced his transition to the role of non-executive chairman from the executive chairman, the Mahindra and Mahindra Group on Monday announced the succession plan for its top executives. Company said that its auto sector president, Rajan Wadhera will also step down from his executive role.
The company said in a regulatory filing that 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 Anish Shah,” the company said.
The Farm Equipment Sector will be headed by Hemant Sikka. Veejay Nakra will be appointed CEO of Auto Division and will have operating responsibility for PV and entire CV business with P&L accountability, except for the Product Development Process.
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R. Velusamy will be appointed Chief of Global Product Development (Automotive). Vinod Sahay will be appointed as Chief Purchase Officer of AFS. Sikka, Nakra, Velusamy and Sahay will report to Rajesh Jejurikar. Rajeev Goyal will be appointed as CFO of AFS. He will have dual reporting to Rajesh Jejurikar and Durgashankar.
The Chief Human Resources Officer for AFS position will be handled by Rajeshwar Tripathi. 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 and Steel Sector, reporting to Anish Shah.
Anand Mahindra will step down from his position as the Executive Chairman of the board with effect from April 1, 2020. Pawan Goenka will be re-designated as MD and CEO with effect from April 1, 2020, till his retirement a year later.
(With input from agencies)
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