Keshub Mahindra became the Chairman of Mahindra and Mahindra in 1963.
Keshub Mahindra, former Chairman of Mahindra and Mahindra, passed away today morning. He was 99.
Tributes soon poured in for the industrialist from the corporate world.
Former Managing Director of the Mahindra Group and Pawan K Goenka remembered Keshub Mahindra in a Twitter post. “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,” the INSPACe chairman wrote.
He added, “I always looked forward to meetings with him and was inspired by how he connected business, economics and social matters. Om Shanti'.
Managing Director of the Raymond Group Gautam Singhania offered his condolences over the demise of Keshub Mahindra. “Keshubhji lived a glorious life guiding the growth of the Mahindra group for nearly five decades. With his endearing personality, he could navigate many challenging situations. My deepest condolences to the family, employees and well wishers of Mahindra Group. RIP Keshub Mahindra,” Mr Singhania wrote.
Puneet Goenka, MD & CEO, Zee Entertainment Enterprises Ltd, also paid his heart-trenching tribute on Twitter. “Keshub Mahindra ji was an idol to entrepreneurs and leaders across sectors. His vision and approach towards business inspired many including me, as he taught India Inc. the essence of building a strong business and giving back to the society through his philanthropic efforts.”
In a follow-up post, he added, “We have truly lost a legend today, but his legacy will symbolise the Indian entrepreneurial spirit for times to come. Heartfelt condolences to the Mahindra Group, Anand Mahindra and the family. Thoughts and prayers with you during this difficult time.”
Keshub Mahindra was serving as the Chairman Emeritus of Mahindra and Mahindra. He joined the company back in 1947 and became its Chairman in 1963. Under his leadership, the Mahindra Group grew from an assembler of Willys Jeep to a conglomerate.
Mr Mahindra stepped down as chairman in 2012 after which his nephew Anand Mahindra took over.
A philanthropist, Keshub Mahindra did his graduation from the Wharton School, University of Pennsylvania. Apart from working at the Mahindra Group, Keshub Mahindra was part of several government committees such as the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries. The industrialist was also a member of the Prime Minister's Council on Trade and Industry from 2004 to 2010.
According to Forbes, Keshub Mahindra had a net worth of $1.2 billion which made him the oldest Indian billionaire. He was ranked 2407 among the world's wealthiest people.
Mr Mahindra also served on boards and councils of Tata Steel, Indian Hotels, ICICI, Tata Chemicals, IFC, and SAIL. He held the post of the founder of chairman at Housing and Urban Development Corporation Limited (HUDCO) and served as the Vice-Chairman of the Housing Development Finance Corporation Ltd. and as Director of Bombay Dyeing & Manufacturing Co. Ltd. and Bombay Burmah Trading Corporation Limited.