Dr. Pawan Goenka Appointed As Chairman @ SsangYong

Mahindra's acquisition of Korean automobile manufacturer SsangYong has been in the media limelight for quite some time now. After a number of bids, it was Mahindra that bagged the company as preferred bidder in August 2010. With Mahindra recently completing formalities related to the acquisition of a majority stake in the Korean company, a number of synergies were expected to roll into place.

Post the first meeting of the newly appointed Board of Directors, Dr. Pawan Goenka, President, Automotive & Farm Equipment Sector, Mahindra & Mahindra Ltd, has also received the Chairman’s seat at Ssangyong Motor Company.  The new CEO appointed at SYMC is Mr. Yoo-il Lee, and Mr. Dilip Sundaram from Mahindra will be the new CFO.

Speaking on his new appointment, Dr Pawan Goenka expressed that in his capacity as Chairman he looks forward to scaling new heights as well as ushering new synergies between Ssangyong and its parent company Mahindra & Mahindra.