Business

M&M makes more top-level changes

Appointments seen in auto, farm units

Mahindra & Mahindra Ltd. (M&M) has made several changes in the group corporate office (GCO) and auto and farm sectors (AFS).

The changes will be effective April 1, 2020, the company said.

This follows the changes announced on December 20.

In the GCO, S. Durgashankar, currently president, group M&A, corporate accounts and group secretarial, 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 who will be elevated to the M&M board as deputy MD and Group CFO.

In AFS, since Rajan Wadhera will retire and step down from his role as president, auto sector, Hemant Sikka, currently president, CPO, power and spares business, has been named to head the farm equipment sector.

Auto division

Veejay Nakra, currently head of sales and marketing in the auto division, will be appointed CEO of the auto division. He will have operating responsibility for passenger vehicles and the entire commercial vehicles business with profit and loss accountability, except for product development process. R. Velusamy, currentlynow senior vice-president, automotive product development, will be appointed as chief of global product development (automotive) while Vinod Sahay, currently heading the bus and trucks business, will be appointed as chief purchase officer of AFS.

Mr. Sikka, Mr. Nakra, Mr. Velusamy and Mr. Sahay will report to Rajesh Jejurikar, currently president, farm equipment sector, who will join the M&M board as executive director (auto and farm sectors from April 1, 2020 onwards.

Rajeev Goyal, currently CFO, automotive sector, will be appointed as CFO of AFS. He will have dual reporting to Mr. Jejurikar and Mr. Durgashankar.

Rajeshwar Tripathi, currently chief people officer, auto, will be the chief human resources officer for AFS. He will have dual reporting to Mr. Jejurikar and Ruzbeh Irani who will head group HR and communications, which includes CSR, CIS and ethics.

The agri business headed by president 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 Mr. Shah.

“These appointments have been finalised under the guidance of the governance, nomination and 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 a statement.

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Printable version | Feb 18, 2020 2:48:27 AM | https://www.thehindu.com/business/mm-makes-more-top-level-changes/article30382910.ece

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