Business Leaders Latest News And Updates
Automobile manufacturer Mahindra and Mahindra on Monday reported a decline of three percent in its sales for May which stood at 36,706 units down from 37,869 units in the corresponding month of 2014. “The auto industry has been showing signs of recovery and it is important that factors like an interest rate cut if considered, would accelerate growth," said Pravin Shah, chief executive of the automotive division, Mahindra and Mahindra. The Reserve Bank of India (RBI) is scheduled to conduct its bi-monthly monetary policy review on June 2, 2015. The apex bank will decide whether or not to cut key lending rates at the meeting on Tuesday."At Mahindra, we hope to see improved sentiments with higher level of economic activities and the launch of our new age XUV500 which has received a good initial response. We are also happy with a 41 percent growth in our exports during the last month,” Shah said. Source: IANS
Anand Mahindra factsheet
|Born on||May 1, 1955|
|Place of Birth||Mumbai, Maharashtra|
|Educated from||Harvard University, Cambridge|
|Works for||Mahindra & Mahindra|
|Valued at||US $ 1.3 billion|
|Position||Chairman and Managing Director|
|Married to||Anuradha Mahindra|
About Anand Mahindra
Born on 1st May 1955 Anand Mahindra is the chairman and managing director of Mahindra Group. Mahindra Group's presence today can be found in multiple sectors ranging from agribusines to aerospace that initially started as a steel trading company. It is considered to be one of the most reputed Indian industrial houses with market leadership in many business verticals including utility vehicles like tractors, after market, finance, Holidays and IT. After 65 years, M&M has grown into one of the nation's leading companies, employing more than 117,000 people around the world.
Yet as it moves into the 21st century, it carries along a promise to rise and only get better with time. Anand Mahindra is an active participant in co-curricular activities. He used to play tennis, and now has taken up sailing. He has helped to set up an annual Mahindra Blues Festival in Mumbai, 2011. He is also regular on Twitter. He frequently shares his business ideas and views, through writing in some of India's leading business magazines. He gave USD 10 to Harvard's humanities center, in the name of his mother. This is amongst the largest gifts received by the university, so far.
Personal Background of Anand MahindraK.C. Mahindra, the co-founder of the company is the father of three daughters. None of his daughters displayed any interest in his business. His second daughter, Indira Mahindra is Anand's mother. K.C. Mahindra, through this relation, acts as a maternal grandfather figure to him. Anand was born into a well-known business family, and was conscious of this fact. On completion of his higher education, he showed interest in his grandfather's business, and subsequently joined it.
In the year 1977, he graduated from Harvard College, Cambridge Massachusetts and was an active member of the Phoenix S.K Club.
He completed his MBA from Harvard Business School, Boston, Massachusetts in 1981.
He studied film and architecture before joining Harvard Business School.
Anand married Anuradha Mahindra, who works for various magazines. They enjoy a happy married life and are parents to two daughters.
Anand Mahindra's Career
- In 1981, he returned back home to India, and joined the Mahindra Ugine Steel Company as Executive assistant to finance director.
- Gradually in 1989, he climbed up to the post of the President and Deputy Managing Director, and diversified the company into new business areas of real estate development and hospitality.
- His efforts paid off, when he was appointed the post of Deputy Managing director of M&M in 1991, Managing Director in 1997 and Vice chairman in 2003.
- He was also a co-promoter of Kotak Mahindra Finance Ltd, which was converted into a bank in 2oo3, and rose up to the position of leading private sector banks.
Awards and Achievements of Anand MahindraUnder his guidance and leadership, the Mahindra group has set international benchmarks for success. A rapid growth was witnessed in the company, in the terms of acquisitions, as well as Greenfield business development with several high profile brands, including:
- Satyam Computer Services (2009)
- Reva Electric Motors (2010)
- Sangyong Motor Company (2010)
- Scorpio (2002)
- Rajiv Gandhi award in 2004 for his outstanding contribution to field of business Business Leader award (2008-09) by economic Times Most Inspiring corporate leader of the year 2007, by NDTV Profit. 'Knight of the Order of the Merit' by the President of the French Republic and many more. Fotune Magazine 2014 Ranked Anand among "The World's50 Greatest Leaders" The Energy and Resources Institute (TERI) – 2014 gave him the Sustainable Development Leadership Award
Mahindra and Mahindra (M&M)- Company ProfileM&M is a company that consists within itself many companies, united with a common purpose. The company enjoys a superior position in various key industries such as utility vehicles, information technology, tractors, and vacation ownership. Its growing presence can be felt in real estate development, aerospace, retail, defense, energy, financial services, logistics and many more. Grown into a US $ 11.1 billion company, it is present in over 100 countries across the world.
Problmes faced by M&M
- The years 2001-2002, were very low periods for the company.
- The stock price was low.
- Anand had full belief in the project of the SUV Scorpio, and drove everyone together with him in this belief, playing the cards well and coming out a winner in this gamble.
- Scorpio made positive impressions on the company's growth and came out as a well judged risk.