M&M Appoints Rajeev Goyal as CEO of Agri, New Energy Business in Senior Management Reshuffle

Mahindra & Mahindra has appointed Rajeev Goyal, the current Chief Financial Officer of its Auto and Farm Sector (AFS), as Chief Executive Officer of its Agri and New Energy businesses, including Powerol, in a newly created role effective April 1, 2026.

Goyal’s elevation is part of a wider leadership restructuring to sharpen execution and accelerate growth within Mahindra’s Auto and Farm Sector, as the portfolio of businesses expands.

In an internal note to employees, Rajesh Jejurikar, Executive Director and CEO of Mahindra’s Auto and Farm Sector, said, “Rajeev has been an invaluable partner to me as the CFO, and it is now exciting to see him move into a business leader role. He will focus on the growth strategy and unlocking the potential for these two businesses. He will continue to report to me.”

Jejurikar thanked Goyal for his contributions as AFS CFO and wished him well in his new role.

Following Goyal’s move, M&M will merge the central finance and human resources functions within AFS, a step aimed at making individual businesses more agile and empowered to execute their strategies.

Its existing organisational structures under Velusamy R and Veejay Nakra will remain unchanged, as announced earlier. For Aerospace and Defence, Vinod Sahay will continue to report to Anish Shah.

As part of the reshuffle, Ashutosh Vidwans, Ami Goda, and Manaswini Goel will report to their respective business heads and to Amarjyoti Barua, Group CFO, while Meenakshi Priyam, Mathan Raj, Sanket Patil, and Kripa Shetty will report to their business heads and to Rohit Thakur, Group CHRO.

Mahindra said the Capital Investment team, led by Subhrangsu Mitra, will continue to report to Goyal for Auto and Farm. Strategic sourcing, SBU, and design functions will remain common across AFS, given their scale and synergistic value.

The leadership changes communicated to employees on Friday will take effect from April 1, 2026.