VS Parthasarathy resigns from Mahindra Group, to pursue personal interests

Mahindra & Mahindra on Monday said VS Parthasarathy, the President of its Mobility Services Sector and Member of the Group Executive Board, has decided to leave the group effective close of April 1, 2021 to pursue personal interests.

Parthasarathy, who joined the Mahindra group in 2000 and began with an HR stint, has expressed desire to leverage his rich professional experience to consult, mentor, build and scale businesses and initiatives across business, education and society in the next phase of his career, M&M said in a regulatory filing.

He was spearheading the newly formed Mobility Services Sector (MSS), a growth driver and incubation platform for future investments by the Mahindra group in technology-driven mobility companies, with the vision of co-creating the 'Future of Mobility'.

It includes all mobility businesses within the group, including Mahindra Logistics and the erstwhile aftermarket sector, Mahindra First Choice Wheels and Mahindra First Choice Services, and the group's investments in Meru, SmartShift, and Zoomcar.

In view of the strategic importance of MSS, M&M said Anish Shah, who is the Deputy Managing Director and Group CFO of M&M Ltd., and is designated to take over as the Managing Director and CEO (Chief Executive officer) of M&M Ltd from April 2nd, 2021, will take additional charge of overseeing the Mobility Services Sector directly.

"Consequent to his decision to leave the Mahindra Group, Parthasarathy will resign from the Board of Mahindra Logistics Ltd (MLL). Dr. Anish Shah will join the Board of MLL and take over as the non-Executive Chairman of MLL effective April 2, 2021," the filing said.

Commenting on the change, Mahindra Group Chairman Anand Mahindra said Parthasarathy, a multi-faceted personality with varied interests, has contributed significantly to the Mahindra Group in many diverse roles.

"I wish him well and am confident that he will leverage his rich professional experience to continue to make a real difference and leave his mark on India Inc and Indian society. I have no doubt that Anish will steer the Mobility Services Sector and MLL to greater heights," Mahindra added.