MUMBAI, Dec. 27 -- Anand Mahindra, a doyen of corporate India, leaves behind a rich legacy of strong governance, as he eases into the role of a non-executive chairman of Mahindra and Mahindra Ltd, the company he helped transform from a vehicle-maker to a diversified conglomerate. Though he will not be steering the group actively, Mahindra is likely to continue to gently oversee affairs amid testing times for the automobiles industry and for most businesses in general-a transition that was in the works for a long time.
Subodh Bhargava, former chairman of Eicher Motors and Tata Communications, said the foundation of corporate governance built by Mahindra should ensure that the "empowered professionals should be able to face the challenge" of...