Keshub Mahindra, A Key Person And Chairman Emeritus Of Mahindra Group Passes Away

Keshub Mahindra, a chairman emeritus of Mahindra Group, passed away on Wednesday aged 99 as per Economic Times report. He was one of the oldest billionaires of India who had a net worth of 1.2 billion dollars.

He stepped down from his position as Chairman of Mahindra Group and retired on August 9, 2012 to hand over the company to Anand Mahindra, his nephew. He served as a chairman of the company for 48 years.

While serving as a chairman for the company for nearly 5 decades, Keshub was a key person that helped Mahindra Group to forge alliances and expand from being an automobile manufacturer to other business segments like IT, real estate, financial services and hospitality.

Keshubh was an alumni of Wharton, University of Pennsylvania, USA and he joined the Mahindra and Mahindra in 1947 and became the Chairman in 1963.

He has also served on several Boards and Councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC and ICICI. He was also the founding Chairman of HUDCO (Housing and Urban Development Corporation Limited); Vice-Chairman of Housing Development Finance Corporation Ltd; Chairman Mahindra Ugine Steel Co. Ltd; Director of Bombay Dyeing & Manufacturing Co. Ltd. and Bombay Burmah Trading Corporation Limited.