Anish Shah, the current deputy managing director and group CFO, will take over as managing director and CEO of Mahindra and Mahindra on 2 April.
This follows an announcement last December. In November, when Anand Mahindra moves to the role of non-executive chairman, Shah will be the first MD and CEO in the history of the Mahindra Group to have complete oversight of and responsibility for all group business.
Pawan Goenka will retire as MD and CEO, and from the board also on 2 April. In his role he had an oversight of automobile and farm equipment sectors. Rajesh Jejurikar, executive director, will take full charge of these sectors and report to Shah.
Shah joined Mahindra in 2015 as the group president – strategy where he led strategy development, built capabilities such as digitisation and data sciences, enabled synergies across group companies and managed the risk and performance review organisations.
Prior to joining Mahindra, he was president and CEO of GE Capital India, where he led the transformation of the business, including a turnaround of its SBI Card joint venture. His career at GE spanned 14 years, during which he held several positions at GE Capital's US and global units.
He previously headed Bank of America's US debit products business. He started his career with Citibank in Mumbai before moving to Boston with Bain & Company as a strategy consultant.