Anand Mahindra takes over as chairman of Mahindra & Mahindra Ltd

Back in May 2012, we had reported Mr Kesub Mahindra's announcement that was made on the sides of reporting the company's quarterly sales results, about his intention to step down from his position as the chairman of Mahindra & Mahindra Group and eventually retire from the Board of the company. The official announcement and hand over was supposed to get underway at the Annual General Meeting (AGM) that was scheduled on 8 August 2012. 

And as expected, the AGM was concluded yesterday with Mr Kesub Mahindra stepping down from the Borad after leading the group for over 45 years. Mr Anand Mahindra will now get into the driver's seat at the helm of the Indian auto company as the new chairman and managing director. 

Mr. Keshub Mahindra joined the Board of the Company in 1948 and was elected Chairman in 1963. During the 48years of his Chairmanship, the Mahindra Group grew from a manufacturer of automobiles to a federation of companies operating in a range of businesses. which includes automobiles, tractors, auto components, I.T., real estate, financial services and hospitality

The 88-year old, who would continue to be chairman emeritus of the Mahindra group, said, "By now, all of you know that after having enjoyed the privilege of serving as a Director of your company for 64 years, and the honour of being Chairman of the Board for 48 years, I have decided to hand over the baton to the younger generation."