Mahindra Logistics (MLL),a part of the USD 20.7 billion Mahindra Group, on Tuesday said it hasappointed V S Parthasarathy as its non-executive director and Chairman of the board with effect from March 25.
Parthasarathy takes over from Zhooben Bhiwandiwala, who stepped down as non-executive director and Chairman of the board of Mahindra Logistics on Tuesday, the company said in a statement.
Bhiwandiwala continues in his role as President- Mahindra Partners and Group Legal and Member of the Group Executive Board of Mahindra & Mahindra.
Parthasarathy is currently the Group CFO and Group CIO of Mahindra & Mahindra and will continue till March 31.
"From April 1, 2020 he will take charge of the newly created Mobility Services Sector of the Mahindra Group. He is a Member of the Group Executive Board of Mahindra & Mahindra, and on the Board of several listed Mahindra Group companies, as well as other entities includingSmartshift Logistics Solutionswhere he is the Chairman," the company said.
Commenting on his appointment,Parthasarathy said, "Istrongly believe that logistics will play a critical role in helping India achieving its goal of a USD 5 trillion economy. Mahindra Logistics is already a formidable player in both the cargo and people movement business, and it will continue to redefine the logistics industry by drawing on synergies from the Mahindra Group and leveraging advanced new technologies."
Before joining Mahindra & Mahindra in 2000, Parthasarathy, an alumnus of Harvard's Advanced Management Program, was Associate Director at Xerox.
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