Mahindra’s Nanda steps down after 50 years

MUMBAI: After a long innings of 50 years, Arun Nanda has announced his retirement as chairman of Mahindra Holidays & Resorts, a company he is credited to have built globally.

The 74-year-old Nanda has informed the board that he will not seek reappointment, consistent with the age limit for non-executive roles and will retire at the annual general meeting on July 25.

In 2022, Nanda stepped down as chairman of Mahindra Lifespaces, two years ahead of retirement age. Although Nanda will continue as director of Mahindra Holdings, his retirement from key compani-es marks the culmination of an illustrious career with Mahindra Group.

Mahindra Group chairman Anand Mahindra said, “Arun has been a stellar ‘intrapreneur’ of Mahindra Group for several decades. Among his many initiatives, his contribution to the group’s diversification into the leisure and hospitality sector stands out. When Arun established Mahindra Holidays, vacation rental and holiday companies were relatively unknown concepts in India. Today, Club Mahindra is the largest vacation ownership brand outside the US. ”

Nanda said he is delighted that Mahindra Holidays is doing well when he is steppingdown. “It’s been a long journey for a young accountant to be able to set up and manage new and diverse businesses for the group. The two things I cherish the most are the value systems of the group and the empowerment, support and trust I received from Mr Kes-hub Mahindra and Mr Anand Mahindra,” he said.

Nanda has set out on his new journey. His Adhata Trust, which operates about 25 community centres for senior citizens in and around Mumbai, is skilling children in tribal belts. Adhata Trust recent-ly built a charitable home for senior citizens in Panvel and also set up a geriatric care centre in Palghar, Maharashtra.

“Working on improving the quality of life for senior citizens and providing livelihoods for underprivileged girls gives me joy. For somebody who came from a very humble background — my parents migrated to India during Partition — to reach this stage, I feel blessed to have this strong desire to give back to society,” said Nanda.

When asked if he has any regrets, Nanda said he likes to see the glass half full rather than half empty. “God has been kind to me and the biggest gift he has given me is contentment,” he said.
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