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Mumbai: Mr. Anand Mahindra, Vice Chairman and Managing Director of Mahindra & Mahindra, was today honoured with Business India’s Businessman of the Year 2007. Now in its 26th year, the award was instituted by Business India in 1982 to recognize that one outstanding individual in the business community who is a role model for our times.
Mr Mahindra fits the bill eminently. A Harvard MBA, he runs the Rs 24,000 crore Mahindra & Mahindra group which was founded 62 years ago and is chaired by his uncle Mr. Keshub Mahindra who was Business India’s Businessman of the Year in 1989.
Mr. Mahindra started his career at Mahindra Ugine Steel, under his late father Mr. Harish Mahindra. He was appointed deputy managing director of group flagship Mahindra & Mahindra in 1991 and took over as managing director in 1997. In 2003, he was given additional charge as vice chairman. Mr. Mahindra is credited with building on the legacy and moving with the times to make M&M a dynamic automotive major with global ambitions.
The company is the country’s leading tractor-maker, and among the top five in the world. Last year, the company cemented its leadership position with the acquisition of Punjab Tractors. The Scorpio, its popular sports utility vehicle (SUV), launched in 2002, has a substantial market share in the SUV segment.
Mr. Mahindra spearheaded the company’s re-entry into the passenger car market with the successful launch of the Logan, in a joint venture with France’s Renault. Additionally, the company has a joint venture with International Truck & Engine Corporation to manufacture trucks and buses.
The group’s other businesses include information technology, infrastructure development, financial services, automotive components, and trade, logistics and retail. After the successful IPOs of Tech Mahindra (a joint venture with BT) and Mahindra & Mahindra Financial Services, the group is now planning to list holiday timeshare company Club Mahindra.
Receiving the award, Mr. Mahindra said: 'It is an honour and privilege to receive this prestigious award. Awards like this inspire greater self-confidence. For us in India, there is no more diffidence, no turning back. India and Indian companies will continue aspiring to 'disturb the Universe."
Speaking on the occasion, Mr Arun Sarin, CEO, Vodafone Group and chief guest for the evening, commented that, 'I am delighted to present this award to Anand Mahindra, who has built the Mahindra Group into a world class company. India's widely recognized successand continuing growth results from a combination of factors, amongst which has beenthe quality of our businessleaders and entrepreneurs. Weshould increase ourfocus on developingthe future leaders who will take India into the next phase of social, economic and global growth.'
Mr. Mahindra was selected for this coveted distinction, now in its 26th year, by an eminent jury. As is the tradition at Business India, the jury was chaired by Business India's Businessman of the Year 2006, Dr. Baba Kalyani, Chairman & Managing Director, Bharat Forge. Handing over the baton to Mr Mahindra, Dr Kalyani said: 'The Scorpio project must rank as Anand's most outstanding achievement. He demonstrated that Indian companies were second to none and that in spite of various constraints, we could still compete against the best in the world.'
Other members of the jury included, Ms. Chanda Kochhar, Joint Managing Director & CFO, ICICI Bank; Mr. Debu Bhattacharya, Managing Director, Hindalco Industries; Mr. Adil Zainulbhai, Managing Director, McKinsey & Company India; Mr. Akhil Gupta, Senior managing director & Chairman, Blackstone India; Mr. Jignesh Shah, Chairman & CEO, Financial Technologies; Mr. Hemant Luthra, President, Systech
Business India’s Businessman of the Year is clearly one of a kind. Instituted twenty six years ago, as a part of the magazine’s mission to commend outstanding performance by a businessman in India in a particular year – to honour and recognize excellence in business and to act as a role model for others to follow.
Not only is it the first such distinction to be introduced in the country, but over the years it has built up enormous goodwill and prestige. The exclusivity of this award makes it stand out in a sea of clones. The pre-eminence of the selection panel and the very selection process itself, year upon year, has ensured that Business India’s Businessman of the Year distinction remains the most coveted by the business community.
Mr. Mahindra joins an exclusive club of corporate achievers. Previous winners of Business India’s Businessman of the Year Award are :
Business India’s December 17-30 2007 issue published an in depth cover story on Mr. Mahindra. It elaborated on his remarkable accomplishments and his contribution to business and society, as also the selection process.