Mahindra’s CEO and MD Pawan Goenka to retire

Pawan Goenka
Mahindra’s CEO and MD also called as the father of Mahindra Scorpio, Dr Pawan Goenka has retired after 28 years in Mahindra. He was a major part of Mahindra and is responsible for pulling up the brand despite raising global competition. Dr Pawan Goenka joined Mahindra in1993 as the general manager for R&D.

Mahindra’s CEO and MD

Mahindra CEO and MD
Dr Goenka was the driving force behind the group’s growth and transformation. Mahindra has made a lot of technological advancement and infrastructural development under his leadership. Here are some successful bits of the group under his leadership.

Development of Scorpio

Scorpio development Mahindra
Scorpio was a major project for the brand and was led by Dr Goenka. It was the flagship SUV for the brand and is the product that transformed the brand. Scorpio caught the attention of the masses and spread the brand’s name.

Mahindra Bolero

Mahindra Bolero
The Mahindra bolero according to Dr Goenka was more of an experimental vehicle. To their surprise it was India’s largest selling SUV for 10 years. 

XUV 500

XUV 500
The XUV 500 was the next big thing for Mahindra after the Scorpio. It was supposed to add value to Mahindra’s products and it did just that. The XUV 500 was a super success for the brand just like the Scorpio.

XUV 300

XUV 300 development
The Only compact SUV from the brand is the XUV 300. The XUV300 was awarded a 5-star safety rating in the global NCAP. Mahindra was the first and only Indian manufacturer to be awarded “Safer Choice award”.

Electric vehicles

Mahindra CEO Electric vehicles
The Reva Electric car company was a joint venture between Maini group of Bangalore and Amerigo Electric vehicle of the USA. In 2010, bought a 55.2% stake in Reva Electric car company and named it Mahindra electric. Mahindra was the first Indian OEM to launch electric vehicles. Mahindra electric has already launched electric three and four wheelers in the market. The brand is putting in efforts to make electric vehicles more accessible.

Infrastructure

Mahindra factory
After the R&D capabilities the second powerful resource that Mahindra has is its infrastructure. Seven automotive plants of Mahindra  bagged the prestigious Japan Institute of plant maintenance award in Kyoto Japan.  

Struggles and failures

Ford joint venture by Mahindra CEO and MD
In a journey so long and adventurous there will be several ups and downs. Dr Pawan Goenka being the driving force behind the brand had a lot of tough decisions to make and the two major ones that he recalls are the SsangYong joint venture and Ford Joint Venture.

SsangYong Joint Venture

SsangYoung Joint venture
Mahindra had a 75% stake in the 4th largest South Korean Automaker SsangYong. Mahindra made a hard call and decided to exit some money losing business including the SsangYong Joint venture, after losing Rs 2,510 crore in the March quarter due to COVID 19 pandemic.

Ford JV

Ford JV
In 2019, Ford and Mahindra signed an agreement. According to the agreement  Mahindra has to develop, market and distribute ford vehicles in India. After the global economic downfall the joint venture was called off and now Mahindra plans to double its investments on EVs.

Next Mahindra’s CEO and MD

New Mahindra CEO and MD
Dr. Pawan Goenka was certainly a main pillar in M&M’s growth. His legacy will be carried forward by Dr. Anish Shah as Mahindra’s CEO and MD who is currently the Deputy Managing Director and Group Chief Financial officer at M&M. Before Joining Mahindra Dr Shah was President and CEO of GE Capital India.

Image Credits:
Mahindra auto

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