Mahindra & Mahindra Financial Services Limited has informed the Exchange regarding Appointment of Mr. Baneswar Banerjee as Other of the company w.e.f. April 09, 2026.
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Mahindra & Mahindra Financial Services Limited has appointed Mr. Baneswar Banerjee as Business Head – Automotive Loans, a Senior Management Personnel role, effective April 9, 2026. Mr. Banerjee is a postgraduate from IIM Indore and a Mechanical Engineering graduate with over 25 years of experience in the automotive industry, including more than two decades at Mahindra & Mahindra Limited. He has led high-impact roles in sales, customer experience, product launches, and business development, and played a key role in Mahindra's rise to the number two PV player and UV market share leader. He also spearheaded launches of several key Mahindra vehicles including Thar, XUV700, Scorpio N, 3XO, BEV (9E and 6E), and others. The appointment was approved by the Board on March 31, 2026, based on the recommendation of the Nomination and Remuneration Committee.
This is a senior management-level appointment (Business Head, not a Board/CXO change) and is unlikely to materially move the stock. However, bringing in a seasoned insider with deep automotive experience signals continued focus on strengthening the auto loan vertical, which is a core business for the NBFC.