Mahindra veteran Nanda steps down

MUMBAI: Arun Nanda, Mahindra Lifespace Developers’s long-standing chairman and a “trusted adviser” of Mahindra Group chairman Anand Mahindra, has retired from his leadership position.

Though the retirement age stipulated by the Mahindra Group for non-executive directors is 75 years, Nanda, 73, decided to cut short his term as he wanted to spend more time on social causes.

At Mahindra Lifespaces, Nanda will be succeeded by independent director Ameet Hariani as chairman.

In recent years, Mahindra veterans Pawan Goenka and Bharat Doshi had retired from leadership positions. Nanda, however, continues on the boards of Mahindra Holidays & Resorts and Mahindra Holdings as chairman and director respectively.