Former Mahindra Group Chairman Keshub Mahindra dies at 99
Former Mahindra Group chairman and industrialist Keshub Mahindra passed away at the age of 99 on Wednesday, confirmed Indian National Space Promotion and Authorization Centre (INSPACe) chairman Pawan Goenka.
“The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing. I always looked forward to mtgs with him and inspired by how he connected business, economics and social matters. Om Shanti,” Goenka said in a tweet.
Raymond chairman and managing director Gautam Singhania and former Infosys board member Mohandas Pai were among people who paid their last tributes to the veteran industrialist.
“Keshubji lived a glorious life guiding the growth of the Mahindra group for nearly five decades. With his endearing personality, he could navigate many a challenging situations. My deepest condolences to the family, employees, and well-wishers of Mahindra Group. RIP Keshub Mahindra,” Singhania wrote on Twitter.
In 1947, Keshub Mahindra had joined his father’s company which started by manufacturing and selling utility vehicles. He was the chairman of the conglomerate from 1963 to 2012. He then named his nephew Anand Mahindra as his successor.
He played an integral role in the diversification of the Mahindra Group, which was mainly involved in assembling Willys Jeeps. However, the $19 billion conglomerate is now known for its tractors and sports utility vehicles, besides having a presence in software services, hospitality and real estate.
Mahindra’s death came days after he had re-entered the Forbes list of India’s Richest Billionaires for 2023. With a net worth of $1.2 billion, he was India’s oldest billionaire.
During his lifetime, Mahindra was appointed to various government committees, including the Sachar Committee on Company Law and Monopolistic and Restrictive Trade Practices (MRTO) Legislation and the Central Advisory Council of Industries. He was a member of the Prime Minister’s Council on Trade and Industry from 2004 to 2010.
Mahindra was awarded Chevalier de l’Ordre National de la Legion d’honneur by the French Government in 1987. He was a member of Assocham’s Apex Advisory Council and the President Emeritus of the Employers’ Federation of India. Mahindra also served on the boards and councils of top firms like Tata Steel, Tata Chemicals, ICICI, IFC, Steel Authority of India Limited and Indian Hotels.