Mahindra and Mahindra Limited (M&M) today announced that Anand Mahindra has been designated as Executive Chairman and Pawan Goenka has been appointed as new Managing Director of the company.
This is in line with the practice followed by companies across the Mahindra group where the position of Managing Director or the CEO is distinct from that of Chairman.
Announcing the appointment Mahindra said, "Pawan has played a major role in M&M's meteoric growth in the post liberalization era. His elevation as MD is a fitting recognition not only on his vast experience and domain knowledge in the mobility space and his past achievements."
Goenka joined Mahindra and Mahindra as General Manager R&D in 1993 after working for General Motors Corp in Detroit, USA for 14 years.
He played a major role in the development of R&D capability and in the launch of the Scorpio SUV. He was appointed as the Executive Director of Board of Mahindra and Mahindra in 2013.
On this occasion, Goenka said, "I am humbled by my appointment as the Managing Director of Mahindra & Mahindra. When I joined the Group 23 years ago I could never have imagined that one day I would be entrusted with this responsibility by the Board of the Company."
He added, "I am sure that with the guidance of the Executive Chairman of the Board and the support of my colleagues, this company will continue on the growth path that we have witnessed over the last decade and a half."