Farm equipment-to-software conglomerate Mahindra & Mahindra on Friday said its executive director Arun Nanda has stepped down, although he will continue to be associated with the group as a non-executive director.
Mr. Nanda will also continue as the Chairman of Club Mahindra and Mahindra Consulting Engineers and take over from Anand Mahindra as the Chairman of Mahindra Lifespaces, M&M said in a statement.
M&M said Mr. Nanda’s re-definition of role in M&M was due to his wishes to pursue his interest in social sector.
Mr. Nanda will retain his multifarious board positions in a non-executive capacity and will commit a substantial portion of his time to provide continued guidance to the leadership of group companies, including Mahindra Holidays and Resorts India, and Mahindra Lifespace Developers Ltd, that currently belong to the infrastructure sector, the statement added.
Mr. Nanda has been with M&M for 36 years and has played key roles in the group’s expansion, specially in overseas markets.