Mahindra & Mahindra has recently announced that Rajan Wadhera will take up the position of President, Automotive following the retirement of Pravin Shah, who is set to step down from his current position of President and Chief Executive (Automotive), Mahindra & Mahindra Ltd on 31st March, 2017. Wadhera will assume the position of President, Mahindra & Mahindra.
Including the promotion of Rajan Wadhera, the Indian car manufacturer has also restructured its hierarchy broadly classified to Automotive, Agriculture and Farm Equipment. Rajesh Jejurikar will now be the President of the Farm Equipment division while Ashok Sharma will be the President of the Agriculture vertical. All these departments will be reporting to Dr Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. In addition, Rajan Wadhera will also supervise the trucks, buses and construction equipment business along with the Automotive division.
After the demonetisation of Rs 500 and Rs 1,000 currency notes, Mahindra & Mahindra did see a downfall in sales (commercial vehicles) of 14.03 percent in November 2016 over 2015. Mahindra sold 12,724 units in November 2016 as opposed to 14,801 units in November 2015. Passenger vehicles also took a dip in sales due to the demonetisation and the company's sales dipped by 32.78 percent as they sold 19,662 units in November 2015 while in November 2016, sales were 13,217 units.