MAHINDRA & MAHINDRA (M&M) IN EXIT MODE FROM RENAULT JOINT VENTURE

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MAHINDRA & Mahindra (M&M) — the maker of tractors and utility vehicles, whose foray into the car market in a joint venture with Renault has been marred by public spats over management control — has started calling back some of its top executives in the JV, a clear indication that the agreement with the French company could be nearing an end.

   In the recent past, three M&M executives have left the joint venture as the two partners appear to be on the verge of separating. Nalin Mehta, the CEO of Mahindra Renault who has been appointed the new chief operating officer of Mahindra Navistar — the JV with the US company which will roll out heavy trucks, is the most recent and high-profile executive to return to the parent group. Jyoti Malhotra, the head of sales, and K Ravi, who was in charge of services, have also returned to M&M.

   Mr Mehta’s appointment as the COO of Mahindra Navistar was announced internally a few days back while Mr Malhotra and Mr Ravi returned earlier this year. No public announcement has been made.

   M&M’s spokeswoman said it was the company’s policy to deploy key managers in different parts of the group. “In any scaled-down activity, a realignment of business operations is imperative. It’s part of the M&M policy to look at frequent job rotations within the company and it’s part of the career planning.”

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