R Velusamy to head Mahindra's auto business, Veejay Nakra to lead farm equipment
In a major senior leadership rejig at Mahindra Group, R Velusamy has been appointed as President of the automotive business, while Veejay Nakra is set to lead the farm equipment business as its President.Nakra was earlier the Automotive Division President, while Velusamy was the Automotive Technology and Product Development President. Both Nakra and Velusamy will continue to report to the Executive Director and Auto and Farm Sector CEO Rajesh Jejurikar.advertisementNakra replaces Hemant Sikka, who has been appointed as the MD and CEO of Mahindra Logistics following the departure of CEO Ram Swaminathan.
"These leadership changes ensure that we have strong, proven leaders at the helm of our key businesses. Their experience will enable us to drive significant growth and create greater value for our customers and shareholders. We thank Ram for his contributions to the company, and wish Hemant, Veejay, and Velu the very best for the journey ahead," Mahindra Group CEO and Managing Director Anish Shah said in an official statement.Mahindra will also integrate the SUV and LCV (less than 3.5 tonne) businesses under the Automotive Business President, Velusamy. "This would help build greater agility and collaboration, both in engineering our products and taking them to market. The role would have end-to-end responsibility of all functions within the auto business with P&L delivery," the statement said.advertisementJoining Mahindra in 1996, Velusamy was instrumental in the development and successful launch of several internal combustion engine (ICE) and electric vehicle (EV) models of the company.According to Mahindra, the return on capital employed (ROCE) of the farm equipment business is over 60%. Its new President, Nakra, joined Mahindra in 1995 and led several successful launches, including the Scorpio-N and the Thar, in his previous role. He also played an important role in building the company's manufacturing capability and shaping the growth strategy for international businesses.Subscribe to Auto Today Magazine
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