Mumbai: Mahindra Finance today elevated Dhananjay Mungale, currently an independent director on its board, as chairman and Ramesh Iyer as the vice-chairman and managing director.
Mungale has been a board member since March 1999 and was also the chairman of the audit committee of October 2008.
He had earlier worked with Bank of America and DSP Merrill Lynch.
Iyer has been associated with Mahindra Finance since 1995 and was promoted as chief executive in May 1999 and managing director in April 2001. Iyer is also a member of the group executive board of Mahindra Group.