Mahindra Group has issued a statement about the demise of Keshub Mahindra, Chairman Emeritus of the company. Keshub Mahindra, a veteran industrialist, was the face behind the company's ascent to the top league in the automobile industry in the 1990s and 2000s. He served as the Chairman of Mahindra & Mahindra from 1963 to 2012. Following his retirement from the post, he took an active interest in the matters of the day as the group's Chairman Emeritus until his demise at the age of 99.
Born in 1923, Keshub Mahindra was the son of the company's co-founder, Jagdish Chandra Mahindra. He studied at the Wharton School of the University of Pennsylvania, US, and then joined the company in 1947. Thereafter, the company evolved from being a steel trading company initially to a conglomerate of different industries, such as IT, real estate, financial services, hospitality, and more.
After heading the group for 28 years, Keshub Mahindra stepped down from the post. Post that, his nephew Ananda Mahindra became the Chairman of the board and Managing Director of the company.
Mahindra Chairman Emeritus Keshub Mahindra: Roles & Responsibilities
Keshub Mahindra was nominated by the Indian government to serve on a number of committees, including the Central Advisory Council of Industries and the Sachar Commission on Company Law & MRTP. From 2004 to 2010, he was a member of the Prime Minister's Council on Trade & Industry in New Delhi.
He was the President Emeritus of the Employers' Federation of India, an honorary fellow of the All India Management Association, and a member of the Council of the United World Colleges in the UK and the Apex Advisory Council of ASSOCHAM. For his contributions, he was conferred the Chevalier de l'Ordre National de la Legion d'Honneur by the French government in 1987.
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In both public and private capacities, Keshub held positions on a number of boards and councils, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC, and ICICI. In addition, he also founded and chaired HUDCO (Housing and Urban Development Corporation Limited) and served as Vice-Chairman of Housing Development Finance Corporation Ltd., Chairman of Mahindra Ugine Steel Co. Ltd., and Director of Bombay Dyeing & Manufacturing Co. Ltd. and Bombay Burmah Trading Corporation Ltd.
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What Anand Mahindra Has to Say Keshub Mahindra's Passing Away
‘Mr Keshub Mahindra was and will always remain a source of inspiration for me and the entire Mahindra Group. He was a man of principles and led from the front to preserve the legacy of our founders, which has ensured that the organisation has remained rooted in ethics, values and good corporate governance. He was known for his astute business acumen that helped in transforming Mahindra into a diversified federation of companies. His compassion, and people-centric approach made him a global business icon, who was much loved and respected,’ said Anand Mahindra, Chairman of Mahindra Group.
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