Industrialist Keshub Mahindra Passes Away
Keshub Mahindra, Chairman emeritus of Mahindra & Mahindra died at the age of 99 on 12 April. INSPACe chairman Pawan K Goenka confirmed this on his Twitter handle. Mahindra was a graduate of Wharton, University of Pennsylvania, and later joined his father’s company which started by manufacturing and selling utility vehicles, in 1947.
Mahindra transformed the company from an assembler of Willys Jeeps in India to a diversified conglomerate. Not only is the USD 19 billion Mahindra Group known for its tractors and sports utility vehicles, but it is also present in software services, hospitality and real estate.
He became chairman of the Mumbai-listed conglomerate from 1963 to 2012. After his retirement, his nephew Anand Mahindra became his nephew.
He was a member of the Prime Minister’s Council on Trade & Industry from 2004 to 2010 and is known as India’s oldest billionaire.
Mahindra had a net worth of USD 1.2 billion. He has also served on several Boards and Councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC and ICICI.
Mahindra was also the Founder Chairman of HUDCO (Housing and Urban Development Corporation Limited); Vice-Chairman of Housing Development Finance Corporation Chairman Mahindra Ugine Steel Co; Director of Bombay Dyeing & Manufacturing Co.and Bombay Burmah Trading Corporation.
