Homegrown auto major Mahindra and Mahindra (M&M) today announced appointment of Rajan Wadhera as the President of its automotive business with effect from April 1 next year, while carving out agriculture vertical as an independent entity.
The company has formed agriculture sector in addition to its two existing verticals — Automotive and Farm Equipment, the Mumbai-based firm said in a regulatory filing.
On the top management change, the company said Wadhera has been appointed as the President of the Automotive Sector and will take over from Pravin Shah, the current President and Chief Executive (Automotive), who retires on March 31, 2017.
Subsequent to the restructuring, the respective business heads have also been re-designated.
Accordingly, Rajesh Jejurikar will now be the President of the Farm Equipment Sector and Ashok Sharma, the President of the Agriculture Sector.
All three sector presidents in their respective capacities will report to Managing Director Pawan Goenka. All changes will be effective April 1, 2017.
Mahindra Trucks and Buses and the Construction Equipment businesses will now be an integral part of the Automotive sector and will report to Wadhera, M&M said.