Anand Mahindra, vice chairman and managing director of Ssangyong Motors owner Mahindra & Mahindra, has been named chairman of the Mahindra Group.

He takes over from Keshub Mahindra who has retired after 48 years and is now chairman emeritus at the request of M&M’s board.

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Anand Mahindra was appointed managing director of Mahindra & Mahindra in 1991 and, in 2003, became vice chairman.

Mahindra operates in almost all Indian automotive sectors from two-wheelers through three-wheelers, commercial vehicles, SUVs, MPVs and sedans. It also makes, tractors, powerboats and aircraft.

Other group operations include automotive components, finance, insurance, IT, retail, real estate, hospitality, logistics and the auto aftermarket.

Recent acquisitions include Ssangyong Motors, Reva Electric Car Company, Satyam Computer Services, Aerostaff Australia and Gippsland Aeronautics.

Fortune magazine named Anand Mahindra one of the top 25 most powerful business people in Asia in 2011.

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