Mahindra Logistics (MLL), the leading provider of logistics and people transport services, has announced the appointment of Dr Anish Shah as the chairman of the board, effective April 2, 2021. Dr Shah will also join the Board of Directors on the same date. At present, he is the deputy MD and Group CFO of Mahindra & Mahindra (M&M) and will take over as the MD and CEO of M&M from April 2, 2021.
This appointment follows the decision of V S Parthasarathy, president - Mobility Services Sector and Member of the Mahindra Group Executive Board, to leave the Mahindra Group to pursue personal interests.
According to the company statement, Parthasarathy desires to consult, mentor, build and scale businesses and initiatives across business, education and society in the next phase of his career. Parthasarathy, who will resign from the Board of Mahindra Logistics (MLL) with effect from April 2, 2021, was appointed to the position on March 25, 2020.
Partha calls it a day after two decades at M&M
Parthasarathy, fondly known as Partha, dedicated more than two decades of his professional career to M&M. He has over 3 decades of experience across diverse functions – HR, Finance, M&A, IT and international operations. He is best known for his role as the Group CFO from 2013 to 2020. He is a much-awarded professional, thought leader, and votary of transformational changes. He is a well-recognized speaker in the fields of finance and IT. He was awarded with the Lifetime Achievement Awards for both his CFO and CIO roles. His many awards include the Business World - Yes Bank Hall of Fame Award and Best CFO of India Award by IMA. He was the President of Bombay Chamber of Commerce and Industry in 2019-20. He is passionate about encouraging innovation and developing young talent. His efforts in the social innovation space are commendable; he runs for Nanhi Kali (Girl Child Education) at the Mumbai Marathon as a change icon and has been adjudged the ‘Change Legend’ at the Mumbai Marathon 2019 being the highest fund-raiser at the event.
Calling it a day at the Mahindra Group, Partha said: “Thank you, Mahindra Family, for the best 21 years of my life. There are no words though, that can express how sincerely grateful I am for the privilege of working with people who are so talented and driven – my mentors, my juniors (who taught me more than I taught them) and the Board, for their support, guidance and trust over more than two decades. I look forward to the next stint with the tail winds of support and blessings from the Mahindra family”.
Mahindra Logistics targets speedy growth
The Mobility Services Sector continues to be a high priority growth opportunity for the Mahindra Group. In the Indian logistics sector that is poised for exponential growth, Mahindra Logistics, given its 3PL capabilities and its cross-sectorial spread along with the platform-based business model of Mahindra First Choice Wheels, promises to re-shape the aftermarket sector. These businesses will contribute significantly to the growth and the valuation of the Mahindra Group.
In view of its strategic importance, Dr Anish Shah, who is the Deputy Managing Director and Group CFO of M&M, and is designated to take over as the Managing Director and CEO of M&M from April 2nd, 2021, will take additional charge of overseeing the Mobility Services Sector directly.
Consequent to his decision to leave the Mahindra Group, Parthasarathy will resign from the Board of Mahindra Logistics Limited (MLL). Dr. Anish Shah will join the Board of MLL and take over as the non-Executive Chairman of MLL effective 2nd April 2021.
Commenting on the change, Anand Mahindra said, “Partha is a multi-faceted personality with varied interests. He has contributed significantly to the Mahindra Group in many diverse roles. I wish him well and am confident that he will leverage his rich professional experience to continue to make a real difference and leave his mark on India Inc and Indian society. I have no doubt that Anish will steer the Mobility Services Sector and MLL to greater heights”.