NEW DELHI: The Board of Mahindra Lifespace Developers Ltd. in its meeting on May 14, 2020 approved the appointment of Arvind Subramanian as Managing Director & Chief Executive Officer of the company with effect from July 1, 2020.
He will succeed Ms. Sangeeta Prasad who, after a distinguished career of over eleven years with the Mahindra Group, has decided to pursue other interests and had tendered her resignation to the Board of the company on February 7, 2020.
At the request of the Board she graciously agreed to stay on till June 30, 2020 to ensure a smooth transition of leadership at the company.
Commenting on his appointment, Arun Nanda, Chairman, Mahindra Lifespaces Developers Ltd. said, “Mahindra Lifespaces is poised for strong growth in a rapidly consolidating market. At Happinest, Arvind has demonstrated his ability to imagine and engineer a new future for the sector, for the company and for our customers. I am confident that he will bring the same pioneering spirit to build on the strengths that Mahindra Lifespaces possesses.”
Arvind joined the company as Chief Executive Officer of Mahindra Happinest, the affordable housing business, in September 2018. Under his leadership, Happinest has established itself as an innovator and an emerging leader in the affordable housing market segment in India. He led successful new sales launches and ahead-of-time project completions.
Arvind has been an advocate of the power of digital, and Mahindra Lifespaces has been a front-runner in embracing technology in sales, customer service, project management and property management.
Arvind has over 23 years of experience, starting his professional career with the Tata Administrative Service, the central management cadre of the Tata Group. He spent close to fifteen years with the Boston Consulting Group (BCG) where he was a Partner & Managing Director.
At BCG, Arvind was the global topic leader for the ‘Next Billion Consumers’, picked by the Financial Times as one of ‘The Fifty Ideas That Shaped Business Today’. He was also tasked with setting up and leading BCG’s Centre for Customer Insight.
Prior to joining the Mahindra Group, Arvind was Regional CEO at a leading real estate developer. He holds an MBA from the Indian Institute of Management, Ahmedabad and a B.Tech. from the Indian Institute of Technology, Madras.