It is the end of an era for Auto Inc…
The Chairman Emeritus and patriach of Mahindra & Mahindra, Keshub Mahindra passed away earlier in the morning (April 12, 2023).
He joined M&M Group in 1947 and became the chairman in 1963. Under his stewardship, M&M expanded across sectors from IT to real estate and even financial services apart from transitioning into a full-fledged automotive OEM from M&M being assemblers of Willys Jeeps in India,
Keshub Mahindra was also a key member of many industry bodies. He was the Chairman of Bombay Chamber of Commerce and Industry between 1966–67 and also the President of ASSOCHAM between 1969–70. He also served as Chairman of IIM Ahmedabad between 1975-85. After his retirement, he handed over the baton to his nephew Anand Mahindra.
Speaking about him, Anand Mahindra, Chairman, Mahindra Group, said, “Mr 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. Mr 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”.
Tributes from across the automotive industry is flowing in remembering his contribution –
Auto industry veteran Pawan Goenka, Chairperson of INSPACe – Dept of Space tweeted that, “The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing. I always looked forward to mtgs with him and inspired by how he connected business, economics and social matters. Om Shanti.”
Vinod Aggarwal, President, Society of Indian Automobile Manufacturers (SIAM) and MD & CEO, VECV conveyed his condolence, “The Indian Automobile Industry today lost one of it’s pioneers Shri Keshub Mahindra, at the age of 99. 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 was the President of SIAM during the year 1964. SIAM and the Indian Automobile Industry condoles the passing away of a true visionary and pray for the departed soul to rest in peace.”
The Automotive Component Manufacturers Association President, Sunjay Kapur, Chairman at Sona Comstar tweeted that “A true legend in every right. Mr Keshub Mahindra built a brand that India is proud of and built an industry for which we are all grateful. A mentor and friend to my father and a visionary in every sense of the word. May he always be remembered with joy. “
Federation of Automobile Dealers Associations (FADA India) also released a statement, “We are deeply saddened by the sudden passing of Shri Keshub Mahindra, Chairman Emeritus – Mahindra & Mahindra. Our hearts go out to his family and loved ones during this difficult time. As members of the Auto Retail fraternity, we join in mourning the loss of an Industry Icon whose contributions to the growth of the Indian Economy will always be remembered. Shri Keshub Mahindra’s legacy in the automotive industry will continue to inspire us all. Our thoughts and prayers are with the Mahindra & Mahindra family as they cope with this immense loss. May his soul rest in peace. Om Shanti.”
SP Shukla, Member – Group Executive Board, President – Group Strategy & Chief Brand Officer and President – Defence at Mahindra Group tweeted, “I shall always cherish the memory of Mr Keshub Mahindra -a doyen of Indian Industry. It was an honour to receive my degree from him at IIMA. I remember his kind words at the start of my career. Years later I was to experience his inspiring leadership at M&M. Om Shanti.”
Unfortunately the news of his passing away comes on a day when the Forbes list of India’s Richest Billionaires for 2023 names him India’s oldest billionaire with networth of $1.2 billion (Rs 9,900 crore).
