Keshub Mahindra

Keshub Mahindra
Born Keshub Mahindra
(1923-10-09) 9 October 1923
Residence Mumbai, India
Citizenship  India
Education Bachelor of Science
Alma mater Wharton, University of Pennsylvania, US, 1978
Occupation Former chairman of Mahindra & Mahindra Limited
Years active 1947–2012
Organization Mahindra & Mahindra Limited
Known for Mahindra & Mahindra Limited, Bhopal Gas Tragedy
Salary $5,300,000[1]
Net worth $615 Million (Forbes Oct 2011)
Religion Hindu
Children Three
Website www.mahindrawarroom.com mahindra.com

Keshub Mahindra is the former chairman of the Mahindra Group, including Mahindra & Mahindra Limited. As per Forbes Mar 2011 rankings, Mahindra has a net worth of $615 million and is ranked #82nd richest person in India.[2] Mahindra is uncle of Anand Mahindra.[3] He handed charge to nephew Anand Mahindra in 1997. Mahindra retired on 9 August 2012 after heading the group for 45 years, handing over the baton to his nephew and vice-chairman and managing director Anand Mahindra.[4] In a recent interview for the Creating Emerging Markets project at the Harvard Business School, he describes the firm’s evolution into a global business group and his determination never to compromise on high ethical values.[5]

Early life

Mahindra is a graduate from Wharton, University of Pennsylvania, US. He joined Mahindra & Mahindra Limited in 1947 and in 1963 he took over as chairman. He is also a philanthropist.

Mahindra has also been appointed by the Government of India to serve on various committees, including the Sachar Commission on Company Law & MRTP, Central Advisory Council of Industries etc.[6]

Membership of organisations and committees

  1. Prime Minister’s Council on Trade & Industry
  2. Employers’ Federation of India (President Emeritus)
  3. Chairman of Centre for Research in Rural & Industrial Development Society
  4. President of the Bombay Chamber of Commerce & Industry (1966–67)
  5. President of the Indo-American Society (1991–92)
  6. Chairman, India Nominating Committee “Single Nation Programme” – Eisenhower Exchange Fellowships, USA (1998–2005).[7]

Philanthropy

  1. Chairman: Mahindra Foundation.
  2. Vice-President: National Society for Clean Cities.
  3. Director: Pratham (Indian education initiative, 2003–08).[8]

Awards

  1. Businessman of the year, India (1989) by Business India.
  2. Rotary award for Vocational Excellence (1992).
  3. Lifetime Achievement Award (2007) by Ernst & Young.[9]

Controversy

Keshub Mahindra had served as the non-executive chairman of Union Carbide India Limited at the time the incident took place in 1984 in which 3,787 people died in Bhopal (as per Govt of Madhya Pradesh). In June 2010, seven former employees of the Union Carbide subsidiary, all Indian nationals and many in their 70s, were convicted of causing death by negligence and each sentenced to two years imprisonment and fined Rs. 100,000 ($1,636), including Keshub Mahindra.[10] All were released on bail shortly after the verdict [11]

References

  1. ↑ "Salary".
  2. ↑ "Forbes List 2011".
  3. ↑ Karmali, Naazneen (9 May 2011). "Mahindra's Secret Global SUV Page 2 of 3". Forbes.
  4. ↑ "Keshub Mahindra retires as Mahindra & Mahindra Chairman, Anand Mahindra takes over". 9 August 2012.
  5. ↑ http://www.hbs.edu/businesshistory/emerging-markets/pages/profile-detail.aspx?profile=kmahindra
  6. ↑ "Brief Profile".
  7. ↑ "Profile".
  8. ↑ "Profile".
  9. ↑ "Profile".
  10. ↑ "Keshub Mahindra, 6 others get 2-year jail for Bhopal tragedy".
  11. ↑ "Profile".
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