Leadership changes at Mahindra & Mahindra come into force

By Lijee PhilipMUMBAI: On Wednesday, Mahindra & Mahindra will see the reshuffle of its top management finally take effect, a transition during a difficult time for a company struggling to overcome a sales slump and mounting competition.The new leadership structure will ensure more defined responsibilities, sources said.To start with, the UV and tractor maker has shortlisted 4-5 key senior strategic positions — head of strategy, IT, customer experience/ brand as well as a CFO — that will be announced shortly.Some roles are completely new positions. For instance, the current head of strategy Anish Shah becomes the deputy managing director, and the incumbent CFO VS Parthasarathy will now head the new mobility business. As the company looks for a new CFO, and a strategy head, the new positions of brand and customer experience are being created to make the company more market-friendly and open to change.Mahindra has in the past preferred not to make lateral hiring of top management. Insiders say while all the recently announced auto and farm sector positions were filled by internal talent, the new positions will be lateral appointments. The move comes when the company is facing challenging times in key segments.Mahindra is also looking at realigning functions, and in the process working on rationalisation of employees — all of which are part of the BCG-led recommendations of the ‘Simplicity’ project. The implementation of this exercise may speed up once the environment improves.Even as the management transition is underway, Michael Perschke, stepped down as CEO of Automobili Pininfarina last week. In a Linkedin post, he explained he is stepping down from his duties as CEO . “I am taking a break for now,” he said.

from Economic Times https://ift.tt/2UPXnTP