Ramesh Iyer, MD, Mahindra & Mahindra Financial Services has been promoted vice chairman of the board of directors of the company. He will continue to hold the position of MD as well. The company also appointed Dhananjay Mungale, an independent director as chairman. Iyer has been associated with the company since 1995 and was promoted to the position of CEO in May 1999. He was then elevated as MD with effect from 30 April 2001. He is the president-Financial Services Sector and member of the Group Executive Board of Mahindra & Mahindra, the holding company and on the Board of various Mahindra Group companies.
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