Former Mahindra Group chairman and industrialist Anand Mahindra's uncle Keshub Mahindra passed away on Wednesday. He was 99. Chairperson of INSPACe, Pawan K Goenka, confirmed the passing of Keshub Mahindra, chairman emeritus of Mahindra & Mahindra, on his Twitter handle.
Mahindra joined his father’s company, which started by manufacturing and selling utility vehicles, in 1947. He was chairman of the Mumbai-listed conglomerate from 1963 to 2012. On his retirement, he named nephew Anand Mahindra his successor.
Keshub Mahindra was a graduate of Wharton, University of Pennsylvania. He transformed the company from an assembler of Willys Jeeps in India to a diversified conglomerate. Not only is the $19 billion Mahindra Group known for its tractors and sports utility vehicles, it is also present in software services, hospitality and real estate.
His death comes days after he re-entered the Forbes list of India’s Richest Billionaires for 2023. Keshub Mahindra was awarded the Chevalier de l'Ordre National de la Legion d'honneur by the French Government in 1987.
Mahindra, a well-known philanthropist, had also contributed to the cause of building ethical corporations in India and was a part of many prestigious organisations and committees. He was named by the central government to serve on committees such as the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries.
Mahindra was a member of the Prime Minister’s Council on Trade & Industry from 2004 to 2010. He was also a member of Assocham's Apex Advisory Council and the president emeritus of the Employers' Federation of India.
The veteran industrialist has also served on the boards and councils in companies like Tata Steel, Tata Chemicals, ICICI, IFC, Steel Authority of India Limited (SAIL), and Indian Hotels. He was also the founder of the Housing and Urban Development Corporation Limited (HUDCO), vice-chairman of Housing Development Finance Corporation, chairman Mahindra Ugine Steel, director of Bombay Dyeing and Manufacturing, and Bombay Burmah Trading Corporation Limited.