Keshub Mahindra, who was the chairman emeritus of Mahindra and Mahindra, has passed away on Wednesday at the age of 99, according to a tweet by INSPACe Chairman Pawan K Goenka. Keshub Mahindra, who had a net worth of $1.2 billion, was India’s oldest billionaire.
“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,” Pawan K Goenka said in the tweet.
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.— Pawan K Goenka (@GoenkaPk) April 12, 2023
After his retirement from the position of chairman in August 2012, he handed over the reins of Mahindra & Mahindra to his nephew Anand Mahindra. Since then, Keshub continued to mentor and guide the company’s growth.
Keshub Mahindra was a graduate from Wharton, University of Pennsylvania, USA. After joining the Company in 1947, he became the Chairman in 1963.
He was a well-known philanthropist who has redefined good corporate governance in India. He was also appointed by the Government of India to serve on many Committees including the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries. In 1987, he was awarded the Chevalier de l’Ordre National de la Legion d’honneur by the French Government. From 2004 to 2010, Mahindra was a Member of the Prime Minister’s Council on Trade & Industry, New Delhi.
Keshub Mahindra was also a member of the Apex Advisory Council of ASSOCHAM and was the President Emeritus of the Employers’ Federation of India. He was an Honorary Fellow of the All India Management Association, New Delhi and a member of the Council of the United World Colleges (International) in the United Kingdom.
He also served on several Boards and Councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC and ICICI. Mahindra was also the Founder Chairman of HUDCO (Housing and Urban Development Corporation Limited); Vice-Chairman of Housing Development Finance Corporation Ltd; Chairman Mahindra Ugine Steel Co. Ltd; Director of Bombay Dyeing & Manufacturing Co. Ltd. and Bombay Burmah Trading Corporation Limited.
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