Keshub Mahindra, Chairman Emeritus, Mahindra Group passed away peacefully in the morning of April 12, 2023. The 99-year-old, nonagenarian, was a well-known philanthropist who redefined good corporate governance in India. He was an exemplary statesman and an irreplaceable figure in Indian industry, revered for his vision, his business acumen, his leadership by example, and above all, for his uncompromising professional integrity, a press release issued by Mahindra & Mahindra said..
Vinod Aggarwal, President, SIAM and MD & CEO, VECV said in his condolence message, “The Indian Automobile Industry today lost one of its pioneers Shri Keshub Mahindra, at the age of 99. His leadership in the early years of the journey of the Indian Auto Industry had led to India being recognised as an important player globally and also helped in India becoming a manufacturing hub for the Automobile sector. He was the President of SIAM during the year 1964. SIAM and the Indian Automobile Industry condoles the passing away of a true visionary and pray for the departed soul to rest in peace.”
Born on October 9, 1923, in Shimla, Keshub Mahindra was an alumnus of the Wharton School of the University of Pennsylvania, USA. He joined Mahindra & Mahindra in 1947 and took on the role of Chairman in 1963.Under his stewardship, the company was transformed from its beginnings as a steel trading company to a diversified federation of companies.
Though Keshub Mahindra was a distinguished businessman, he had his own share of woes that continued to haunt him well into his twilight years. It related to the Bhopal gas tragedy that took place on the night of December 2-3, 1984 when deadly methyl isocyanate leaked from the Union Carbide India Limited (UCIL) plant in Bhopal, resulting in the death of more than 15,000 people. It was the world's worst industrial disaster.
Keshub Mahindra was then the Chairman of UCIL. Mahindra and seven others were convicted much later in 2010 for a maximum of two years imprisonment for the crime by a Bhopal court, but all of them got immediate bail. But in 2002 the Bharatiya Janata Party-led National Democratic Alliance government shortlisted Mahindra for the Padma Bhushan which Mahindra refused on moral grounds as there were several protests from various quarters over his involvement in the case. Many say that Keshub Mahindra did not deserve to be convicted as he was not directly involved in the day to day operations of the company.
Speaking about Keshub Mahindra, Anand Mahindra, Chairman, Mahindra Group, said, “Mr Keshub Mahindra was and will always remain a source of inspiration for me and the entire Mahindra Group. He was a man of principles and led from the front to preserve the legacy of our founders which has ensured that the organisation has remained rooted in ethics, values and good corporate governance. Mr Keshub Mahindra was known for his astute business acumen that helped in transforming Mahindra into a diversified federation of companies. His compassion, and people-centric approach made him a global business icon, who was much loved and respected”.
Keshub Mahindra 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 Founder 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.