Anand Mahindra resigns as chairman of Mahindra Forgings

Mahindra Forgings on Thursday said that Anand Mahindra has resigned as its Chairman and Hemant Luthra has been elevated to the post of Non-Executive Chairman.

Luthra is presently a Director of the company. "Under Hemant's stewardship, Mahindra Forgings has emerged as one of the world's top forging companies with a global roster of clients," Mahindra Group's Vice-Chairman and Managing Director, Anand Mahindra, said in a statement.

"Mahindra has always prided itself on being a professionally-run company with managers who are fully empowered to steer their businesses as they see fit. Hemant's appointment is one more example of this tradition of professionalism," Mahindra said.

Subsequent to Luthra's apointment, Anand Mahindra has resigned as Chairman of Mahindra Forgings, the statement said.

Mahindra Forgings' India unit is one of India's leading forging companies with an installed capacity of 90,000-metric tonnes and holds a leadership position in crankshafts and stub axles manufacturing in the country.