MUMBAI, MARCH 24
Mahindra Logistics Limited (MLL) on Tuesday announced the appointment of V. S. Parthasarathy as its Non-Executive Director and Chairman of the Board with effect from Wednesday, March 25, 2020, a company release said.
Commenting on his appointment, V. S. Parthasarathy said, “I am delighted to join the Board of Mahindra Logistics as its Chairman. I strongly believe that logistics will play a critical role in helping India achieve its goal of a USD 5 trillion economy. Mahindra Logistics is already a formidable player in both the cargo and people movement business, and it will continue to redefine the logistics industry by drawing on synergies from the Mahindra Group and leveraging advanced new technologies.”
Parthasarathy is currently the Group CFO and Group CIO of Mahindra & Mahindra Ltd until March 31, 2020. From April 1, 2020, he will take charge of the newly created Mobility Services Sector of the Mahindra Group. He is a Member of the Group Executive Board of Mahindra & Mahindra Ltd., and on the Board of several listed Mahindra Group companies, as well as other entities, including Smartshift Logistics Solutions where he is the Chairman.
He began his career with Modi Xerox as a Management Trainee. Before joining Mahindra & Mahindra in 2000, he was the Associate Director at Xerox. He holds a Bachelor’s Degree in Commerce, is a Fellow Member of the Institute of Chartered Accountants of India, and a Member of the Institute of Chartered Accountants of England and Wales. He is an alumnus of Harvard’s Advanced Management Programme (2011).
Parthasarathy takes over from Zhooben Bhiwandiwala who stepped down as Non-Executive Director and Chairman of the Board of Mahindra Logistics on Tuesday. Bhiwandiwala was instrumental in shaping the growth strategy of the company over the past decade and set high standards of Corporate Governance at MLL. He continues in his role as President- Mahindra Partners & Group Legal and Member of the Group Executive Board of Mahindra & Mahindra Ltd.
Darius Pandole, Chairperson of the Nomination & Remuneration Committee of the MLL board said “The addition of V. S. Parthasarathy as Director and Chairman of the Board, given his business experience and long-standing career within the Mahindra Group, will be valuable in navigating the Company towards achieving its vision. We recommend his appointment and welcome him to the Board. We would also like to take this opportunity to thank Zhooben Bhiwandiwala for his invaluable contribution over the past years as a director and Chairman of the Company.”
