Anand Mahindra of M

Mumbai Oct 26 (UNI) Mr Anand Mahindra, Vice-Chairman and Managing Director, Mahindra&Mahindra Ltd, has won the prestigious CNBC Asia Business Leader of the Year Award for the year 2006.

Instituted in 2001, these awards recognize CEOs who are creating and sustaining entrepreneurial initiatives, developing best practices and carving out powerful businesses in the global economy, said a M&M release issued here this evening.

Since being appointed the Managing Director of Mahindra&Mahindra Ltd in April 1997, Mr Anand Mahindra has embarked on a strategic globalization drive. He has been engaged in a comprehensive change programme in Mahindra&Mahindra Ltd to make the company an efficient and aggressive competitor in the new liberalised economic environment in India.

Under his stellar leadership, the company has traversed new geographies, posted remarkable growth and diversified into newer growth areas, evolving as player of significance on the global scale. In the past decade, the Mahindra Group has successfully pioneered new vistas in Indian industry and made acquisitions both in India and abroad.

The company recently made the largest overseas acquisition in the auto component space by an Indian company by acquiring 67.9 per cent stake in Jeco Holding AG. Jeco Holding AG is valued at an enterprise value of approximately 140 million euros and is one of the top five forging companies in Germany.

Apart from acquisitions, M&M unlocked tremendous shareholder value by carrying out two mega successful listings this year, viz.

Mahindra Finance and Tech Mahindra.

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