In a significant development, Anand Mahindra, who holds the position of chairman and managing director at Mahindra & Mahindra (M&M), has been designated as executive chairman of the company. Dr. Pawan Goenka has been elevated to the position of managing director in the company. He will continue to report to Anand Mahindra and the company board. According to the new executive chairman, the elevation of Dr. Goenka comes as a recognition of the vast experience and domain knowledge in the mobility space and many past achievements. It also comes as a recognition of the eminent role that he is currently playing in the company. Anand Mahindra, as executive chairman, would continue to oversee, and be responsible for shaping the growth strategies of the company and its portfolio of investments.