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Anand Mahindra, chairman, Mahindra Group, told a business channel this week that his successor is already chosen and made known to the board. He said the visibility into the next rung of leadership at Mahindra & Mahindra (M&M) is clear and the group has plenty of resources to fill the gaps if need arises. Succession planning is an important aspect of corporate governance and is needed to ensure continuity in leadership and effective performance of a company. Market regulator Sebi has mandated all listed companies to have succession planning in place so that investors don’t suffer due to sudden or unplanned changes to the leadership structure. Corporate governance firm Institutional Investor Advisory Services India (IiAS) conducted a board survey on succession planning.
The following are the key findings: