Mahindra & Mahindra has announced the appointment of V S Parthasarathy as Chief Financial Officer of the company with effect from today.
The decision was taken at a board meeting of the company where Bharat Doshi, Executive Director & Group Chief Financial Officer of the company decided to step down. His career spanned 40 years of service in the Mahindra Group, of which 21 years were as an Executive Director. He decided to step down from his executive position to be appointed as an Additional Director of the company with effect from today.
At this meeting, the board also approved the appointment of S. B. Mainak as an Additional Director with effect from November 13, 2013 representing the Life Insurance Corporation of India on the Board of Directors of the company. Mainak is a Chartered Accountant and is the Managing Director of Life Insurance Corporation of India and is also on the Boards of the National Stock Exchange of India Limited and Stock Holding Corporation of India Limited.