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Mahindra Logistics Ltd.'s Board appoints Dr. Anish Shah as Chairman

Posted On: 2021-03-08 06:02:39 (Time Zone: Arizona, USA)


Mahindra Logistics Limited (MLL), a leading provider of logistics and people transport services, today announced the appointment of Dr. Anish Shah as the Chairman of the Board, effective 2nd April 2021. Dr. Shah will join the Board of Directors of the Company on the same date. He is the Deputy Managing Director and Group CFO of Mahindra & Mahindra (M&M) Limited. He is designated to take over as the Managing Director and CEO of M&M Limited from April 2nd, 2021.

Mr. VS Parthasarathy (President - Mobility Services Sector and Member of the Mahindra Group Executive Board) has decided to leave the Mahindra Group to pursue personal interests. He desires to consult, mentor, build and scale businesses and initiatives across business, education and society in the next phase of his career. Parthasarathy will resign from the Board of Mahindra Logistics Limited (MLL) with effect from 2nd April 2021.

Dr. Shah will take over as Chairman of the MLL Board with effect from 2nd April 2021, given the importance of logistics and mobility services which are key growth areas for the Mahindra Group.

Commenting on the change, Mr. Darius Pandole, Chairman of the Nomination and Remuneration Committee of the Board said, "We would like to thank Mr. Parthasarathy for his contributions as the Chairman of the Board and welcome Dr. Anish Shah as the incoming Chairman. MLL is well poised to continue its growth strategy under the leadership of Rampraveen Swaminathan and the management team. We are confident that this will be further accelerated under Anish's Chairmanship of the Board".

Shares of Mahindra Logistics Ltd was last trading in BSE at Rs.536 as compared to the previous close of Rs. 523.95. The total number of shares traded during the day was 14874 in over 799 trades.

The stock hit an intraday high of Rs. 540.1 and intraday low of 524.3. The net turnover during the day was Rs. 7944411.


Source: Equity Bulls

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