Nanda steps down from Mahindra after 50 years

Arun Nanda, who is credited with building Mahindra Holidays & Resorts into a global company, has announced his retirement as its chairman after 50 years of service. Nanda, aged 74, informed the board that he will retire at the annual general meeting on July 25, in compliance with the age limit for non-executive roles.

CP Gurnani takes over as the Non-Executive-Chairman of Mahindra Holiday Resorts Ltd. Gurnani has been associated with Mahindra group for long. He is the Managing Director and CEO of IT major Tech Mahindra Ltd.

Nanda had previously stepped down as chairman of Mahindra Lifespaces in 2022, two years ahead of retirement age. Even though he will remain a director of Mahindra Holdings, his retirement from major companies signifies the conclusion of his remarkable career with the Mahindra Group. Mahindra Group Chairman Anand Mahindra praised Nanda as a “stellar intrapreneur” and highlighted his contribution to the group’s expansion into the leisure and hospitality sector, particularly through the establishment of Mahindra Holidays.Expressing his happiness, Nanda mentioned that he is thrilled to see Mahindra Holidays performing well and is optimistic about its promising future in both India and Finland. His current focus is on the Adhata Trust, which provides community centres for elderly individuals and educational programs for children living in tribal areas. Having a strong belief in giving back to the community and holding the values of the Mahindra Group in high regard, Nanda recently mentioned that he treasures the value system taught by Keshub Mahindra. In 1973, he commenced his career with Mahindra as a young accountant in Calcutta and has since managed a diverse range of businesses, including the establishment of Mahindra World Cities in Chennai and Jaipur, which were pioneering initiatives by the group.