Keshub Mahindra to retire as chairman of Mahindra and Mahindra
Mahindra and Mahindra's 88-year-old chairman and managing director Keshub Mahindra has announced that he will retire from the board after the annual general meeting scheduled to be held on August 8. Anand Mahindra, his nephew, will take over as chairman and managing director. Keshub had joined the board of the company in 1948 and became the chairman in 1963. He has piloted the company in various endeavours starting from automobiles to IT, real estate, hospitality and financial services.
Keshub Mahindra, said, "I am deeply touched by this gesture of the board, whose wisdom has guided me and the company over the years, and whose trust and friendship have enriched me personally. I also take this opportunity to express my gratitude for the abundant love and affection always shown to me by our employees and shareholders. It is gratifying to be able to hand over to the next generation at a time when the company's performance is at its best. I am confident that Anand will retain and strengthen the values and principles that the Mahindras have stood for in the last six decades, and the group will continue to grow its leadership position across its various businesses."
Keshub Mahindra will however continue to be the chairman emeritus.
