Mahindra Group has announced new appointments for its senior leadership positions. The individuals chosen for these roles have been a part of the company for a long time and have been given new positions.
“These leadership changes ensure that we have strong, proven leaders at the helm of our key businesses. Their experience will enable us to drive significant growth and create greater value for our customers and shareholders. We thank Ram for his contributions to the company, and wish Hemant, Veejay, and Velu the very best for the journey ahead,” Dr. Anish Shah, Group Chief Executive Officer (CEO) and Managing Director of Mahindra and Mahindra, stated.
Hemant Sikka has been appointed as the Managing Director and CEO of Mahindra Logistics (MLL) by the company’s board. Presently, he serves as the President of the Farm Equipment Sector (FES). Sikka will be replacing Ram Swaminathan as the CEO of MLL, as Swaminathan has chosen to step down for other professional opportunities.
“We believe that MLL has tremendous potential for growth and value creation and are committed to realising this potential. Hemant is one of our top leaders and brings with him a powerful combination of strategic skills, operational rigor, customer centricity and people leadership capabilities,” Mahindra stated.
Veejay Nakra will be given the role of President of Farm Equipment Business (FEB) for the Mahindra Group. The current President of the Automotive Division will oversee FEB, which is one of Mahindra’s most profitable ventures with a Return on capital employed (ROCE) rate of over 60%. “There is a huge opportunity for us to grow the business profitably through tractors, farm machinery and globalization,” Mahindra shared in regards to Nakra’s appointment.
Having joined the Mahindra and Mahindra in 1995, Nakra has proven himself capable of impressive turnarounds in the auto industry, thanks to successful launches. He has also helped Mahindra in improving its building of world-class manufacturing capabilities and developing growth strategies for international businesses. In his new position, Nakra will continue to report to Rajesh Jejurikar, the Executive Director and CEO of Mahindra’s Auto and Farm Sector.
R Velusamy will become the President of the Automotive Business (AB). The current President of Automotive Technology and Product Development joined Mahindra in 1996. He has helped in the creation of world-class power trains and has contributed significantly towards the development and successful launch of ICE flagship products and Mahindra’s electric vehicles. Similar to Nakra, Velusany will also report to Jejurikar.
“To prepare for a future with technology innovation and lead opportunities for growth in domestic as well as global markets, we will now integrate the SUV and LCV (less than 3.5 tonne) business under one leader. This would help build greater agility and collaboration, both in engineering our products and taking them to market. The role would have end-to-end responsibility of all functions within the Auto Business with P&L delivery,” Mahindra explained when talking about Velusamy’s appointment.