Mahindra's Arun Nanda to step down as executive director

Arun Nanda, executive director of Mahindra & Mahindra group has requested that he be permitted to give up his responsibility while continuing to serve the group as a non-executive director of the board of M&M from April 1, 2010.

Nanda, after spending 36 years with the group, wants to pursue interest is the social sector, a release from the M&M stated today.

Nanda will continue to be the chairman of Club Mahindra, a leisure holiday promoting company and Mahindra Consulting Engineers, a consultancy organisation.

He would take over from Anand Mahindra as the chairman of Mahindra Lifespaces, a real estate and infrastructure firm. Anand Mahindra is the vice-chairman and managing director of the Mahindra group.