S. Durgashankar

President - Group Controller of Finance & Accounts

Mr. S. Durgashankar (Durga) a Chartered Accountant, is currently President - Group Controller of Finance & Accounts and Member of the Group Executive Board at Mahindra & Mahindra Ltd. (M&M). He is also Chairman of Mahindra Integrated Business Solutions Pvt. Ltd., Mahindra North American Technical Centre Inc. USA and Mahindra Vehicle sales and Service Inc. USA. He also serves on the Boards of many Group entities, listed & unlisted, domestic & international.

Prior to his current assignment, he was President - Group M&A, Corporate Accounts & Group Secretarial and Member of the Group Executive Board and was instrumental in setting up the Mergers & Acquisitions (M&A) division at M&M. The M&A division at M&M has successfully completed over 125+ Inorganic transactions both (Domestic and International) for the Group. At M&M he has held various senior positions including as Corporate Treasurer and Head of Investor Relations. He was the CFO of Mahindra Satyam, when it was taken over by the Mahindra Group and was responsible for the company becoming current with respect to its Indian GAAP reporting requirements.

Before joining M&M Group he was the Group CFO of a group of businesses with interest in the power sector, listed in AIM & NSE exchanges, where he played a key role in the parent company of that Group getting listed at the NSE. Earlier he headed one of the Strategic Business Units of a Bank where he acquired rich experience in project evaluation, lending and corporate restructuring. He has served / serving as nominee Director on the board of various listed/ unlisted companies.

During his overall work experience of over 35 years, he has handled a wide spectrum of M&A, Corporate Finance and Investor Relations assignments, at senior levels.

He is an Alumni of Harvard Business School where he had attended the Advanced Management Program. He is also a speaker at many fora, including at Indian Institute of Management – Ahmedabad & Nagpur on varied topics in M&A, Finance, Governance & on Business Disruption. He was the recipient of CFO 100 Awards in 2010, 2013 and 2014 for his contribution to Corporate Finance in the area of M&A. He was also the recipient of CFO India League of Excellence Award in March 2015.

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