Mahindra Group announces leadership changes across key business verticals

The Mahindra Group today announced significant leadership changes across its business verticals, aimed at accelerating growth and enhancing operational efficiency across the conglomerate’s key sectors.

Hemant Sikka Appointed MD & CEO of Mahindra Logistics

Hemant Sikka, currently serving as President of the Farm Equipment Sector (FES), has been appointed as the Managing Director & Chief Executive Officer of Mahindra Logistics Limited (MLL). The appointment was approved by the MLL Board.

Commenting on the development, the company stated: “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.”

Sikka will succeed Ram Swaminathan, the current CEO of MLL, who has decided to step down to pursue other professional interests.

Veejay Nakra to Lead Farm Equipment Business

Veejay Nakra, presently President of the Automotive Division, has been appointed as President of the Farm Equipment Business (FEB), one of Mahindra’s most profitable verticals with a return on capital employed (ROCE) of over 60%.

“There is a huge opportunity for us to grow the business profitably through tractors, farm machinery and globalization,” the company noted. “Veejay joined M&M in 1995 and has a strong proven track record of creating a turnaround of the Auto Business with successful launches, while building world class manufacturing capability, along with shaping the growth strategy for our international businesses. He is very well poised to lead FEB into the future.”

Nakra will continue to report to Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sectors), M&M.

R Velusamy Named President of Automotive Business

R Velusamy, currently President of Automotive Technology and Product Development, has been appointed President of the Automotive Business (AB). This strategic realignment will unify Mahindra’s SUV and LCV (less than 3.5 tonne) segments under a single leadership to drive synergy and innovation.

“The Automotive Business has seen significant growth and success in all its segments over the last few years,” the company highlighted. “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.”

Velusamy, who joined Mahindra in 1996, has played a critical role in developing world-class powertrains and spearheading Mahindra’s Electric Vehicle portfolio. He will also continue to report to Rajesh Jejurikar.

Dr. Anish Shah Comments on Leadership Transition

Dr. Anish Shah, Group CEO & Managing Director of Mahindra & Mahindra, expressed confidence in the new leadership appointments.

“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. Shah said.