Keshub Mahindra, Chairman Emeritus of Mahindra Group, passes away at 99

14 Apr 2023


Keshub Mahindra, Chairman Emeritus, Mahindra Group passed away peacefully on Wednesday morning, He was 99. A well-known philanthropist who redefined good corporate governance in India. Keshub Mahindra was known for his vision, business acumen, leadership by example, and above all, for uncompromising professional integrity.

Keshub Mahindra led the Mahindra Group for 48 years as chairman and expanded it from being an automobile manufacturer to other business segments like IT, real estate, financial services and hospitality.
He played key roles in forging business alliances with global majors such as the Willys Corporation, Mitsubishi, International Harvester, United Technologies, British Telecom and many others.
In 2012, Keshub Mahindra, who remained as one of the directors on Mahindra & Mahindra's board for 64 years overseeing the group's metamorphosis from a steel trading company to a $15.4 billion diversified group, handed over the baton to his nephew and the then vice-chairman and managing director Anand Mahindra.
In a statement, Society of Indian Automobile Manufacturers (SIAM) president Vinod Aggarwal condoled his demise saying the Indian automobile industry has lost one of its pioneers.
"His leadership in the early years of the journey of the Indian auto Industry had led to India being recognised as an important player globally and also helped in India becoming a manufacturing hub for the Automobile sector," he added.
Born on 9 October 1923, in Shimla, Keshub Mahindra was an alumnus of the Wharton School of the University of Pennsylvania, USA. He joined Mahindra & Mahindra in 1947 and took on the role of chairman in 1963. Under his stewardship, the company transformed from a steel trading company to a diversified group of companies.
Keshub Mahindra, who contributed significantly to the industry, had been appointed by the government of India to serve on many committees, including the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries. From 2004 to 2010, Mahindra was a member of the Prime Minister’s Council on Trade & Industry. He was also a member of the apex advisory council of Assocham and also served as President Emeritus of the Employers’ Federation of India. He was an honorary fellow of the All India Management Association and a member of the Council of the United World Colleges (International) in the United Kingdom. In 1987, he was awarded the Chevalier de l'Ordre National de la Legion d'honneur by the French government.
“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. Keshub Mahindra 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,” Anand Mahindra, chairman, Mahindra Group, said.
Keshub Mahindra has also served on several boards and councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC and ICICI. He was also the founder chairman of Housing and Urban Development Corporation Limited (Hudco), 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 Limited.
Founded in 1945, Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

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