Mahindra & Mahindra Automotive Sector President to Take on Additional Role as President of Farm Equipment Sector

SYDNEY – November 12, 2009: Mahindra & Mahindra India is proud to announce that the President - Automotive Sector, Dr. Pawan Goenka, who visited Australia to launch the Mahindra Pik-Up utility vehicle in 2007, will assume the additional responsibility of the Farm Equipment Sector, and be reappointed as President - Automotive and Farm Equipment Sectors from April 1, 2010.

Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group, said, "The outstanding performance of the Farm Equipment and Automotive Sectors in the past few years is a reflection of the outstanding leadership and strength of the management team. It also vindicates the organisational structure that was adopted by the Group in 1994, where autonomous Sectors were established. This configuration allowed our businesses to be more customer centric and provide the Sector's leadership with the empowerment necessary to effectively deploy their business strategies."

He added, "Taking on leadership of both the Sectors, Dr. Goenka will continue the customer-centric market focus and global business growth of the two independent businesses, whilst aggressively exploiting the existing and potential synergies between the two."

While establishing autonomy between the Automotive and Tractor divisions as part of the reorganization in 1994, the Mahindra Group has successfully driven synergies between the two Sectors over the years for greater value and customer centricity. The current challenging market scenario places even more emphasis on the Group's strategy of synergy and Dr. Goenka's appointment further underscores this intent in the mission to introduce new standards of customer focus, global business growth, scale and efficiency.

Currently, both the Automotive and Farm Equipment sectors have a growing presence in Australia and undoubtedly, with Dr. Goenka at the helm, there will be more avenues for the two divisions to work more closely on a local level.

This appointment comes directly after the company posted a phenomenal 242% growth at the end of Q2, compared with the same time last year. This growth has been largely attributed to strong sales performance by both the Automotive and Farm Equipment Sectors and the company’s continued and relentless focus on cost reengineering and cost control.

Dr. Goenka, who is the Chairman of Mahindra Automotive Australia, boasts a long list of credentials, including the title of ‘Man of the Year’ by a leading Automotive Industry magazine in India.

Claire Tynan, CEO of Mahindra Automotive Australia says, “We have been very appreciative of Dr. Goenka’s strong support of growth in the Australian market, and we look forward to continuing this journey and sharing his vision within his new role.”