India’s oldest billionaire and chairman emeritus of Mahindra & Mahindra, Keshub Mahindra passed away today, at the age of 99. He served as chairman of the conglomerate from 1963 to 2012. On his Twitter handle, Mahindra’s death was confirmed by Pawan Goenka, the former managing director of M&M.
Mahindra, a well-known businessman and philanthropist, served on the boards of various firms, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, and ICICI. He also served as vice chairman of the Housing Development Finance Corporation. He was appointed by the government to serve on committees such as the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries.
Mahindra is recognised for changing M&M from a vehicle assembler to a frontline automotive firm, with a leadership position in tractor manufacture and a large market share in India’s expanding utility vehicle sector. The company is also involved in software services, hospitality, and real estate.
A Wharton, University of Pennsylvania graduate, Mahindra transformed the company from an assembler of Willys Jeeps in India to a diversified conglomerate. The $19 billion Mahindra Group is known for its tractors and sports utility vehicles and is also present in software services, hospitality and real estate.
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