Mahindra & Mahindra former chairman Keshub Mahindra passes away at 99, India Inc condoles
A graduate from Wharton, University of Pennsylvania, USA, Keshub Mahindra joined the company in 1947, the year when India became independent. Nearly two decades later, he took over as the Chairman in 1963. Mahindra was the President of SIAM in 1964.
Mahindra & Mahindra Chairman Emeritus Keshub Mahindra passed away on Wednesday in Mumbai at the age of 99. He breathed his last this morning at home peacefully, said a person close to the family.
A graduate from Wharton, University of Pennsylvania, USA, Mahindra joined the company in 1947, the year when India became independent. Nearly two decades later, he took over as the Chairman in 1963. Mahindra was the President of SIAM in 1964.
He was one of the oldest Indian industrialists who headed one of the oldest automobile groups in the country - Mahindra & Mahindra (M&M).
It was during his nearly 50-year reign, that the M&M group forayed into other business ventures like information technology, financial services, hospitality and others.
"Anguished by the passing away of Shri Keshub Mahindra Ji. He will be remembered for his contribution to the world of business and his philanthropic efforts. Condolences to his family and friends. Om Shanti," said PM Modi.
The Indian Automobile Industry has lost one of its pioneers, Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement.
"His leadership in the early years of the journey of the Indian Auto Industry had led to India being recognised as an important player globally and also helped in India becoming a manufacturing hub for the Automobile sector," he added.
"SIAM and the Indian Automobile Industry condoles the passing away of a true visionary and pray for the departed soul to rest in peace," Aggarwal said.
Offering his condolences, Kotak Mahindra Bank CEO Uday Kotak said, "Keshub Mahindra: you led the building of an independent India with values and purpose. You touched our lives with grace, decorum and dignity. The word “Mahindra” stands for trust and integrity which we will always cherish and preserve."
"A Century of uncompromising Integrity and Values. We will not stray from that path," said Mahindra Group chairman Anand Mahindra.
"We mourn the loss of our Chairman Emeritus, Shri Keshub Mahindra. Under his leadership, the group transformed into a diversified federation of companies, while preserving the legacy of our founders. His teachings & values will continue to inspire us," said Mahindra Group.
"Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades. With his endearing personality, he could navigate many a challenging situation. My deepest condolences to the family, employees and well wishers of Mahindra Group. RIP Keshub Mahindra," said Gautam Singhania, Chairman and Managing Director, The Raymond Ltd.
ALSO READ | Retail inflation drops to 5.66% in March from 6.44% in February