Mahindra appoints Singh to top job
30th September 2014
Indian vacation ownership company Mahindra Holidays and Resorts India Ltd has named Kavinder Singh as CEO and managing director.
His appointment will be effective from early November. Singh takes over from Arun Nanda, chairman of Mahindra Holidays, who had been at the helm since January when the previous CEO and MD Rajiv Sawhney stepped down.
Sawhney was appointed in April 2011. Singh brings 28 years of experience in the fast moving consumer goods (FMCG) sector having worked in Asian Paints, ITC and Pidilite Industries, the filing said. At ITC, he was responsible for setting up and successfully building the biscuits business.
Mahindra Holidays offers family holidays primarily through vacation ownership memberships. Club Mahindra is the flagship brand of the firm. Other brands offered by the company are—Club Mahindra Fundays and Club Mahindra Travel.
As on 30 June 2014, the company had 172,000 vacation ownership members and 40 resorts across India and abroad. The firm acquired a 60 room riverside resort in the ski town of Manali in June. It also acquired 100% stake in Covington Sarl, Luxembourg, making it a wholly-owned subsidiary of the company. The firm also bought a 18.8% stake in Finnish vacation ownership firm Holiday Club Resorts Oy for €13 million.