New Delhi: Mahindra Lifespace Developers’ Managing Director and Chief Executive Officer Sangeeta Prasad has resigned from her position on 7th February 2020.
However, she will remain with the company till 30th June 2020.
“Sangeeta Prasad has resigned to pursue other interests. She will continue to be with the company till 30th June, 2020 to ensure a seamless and smooth transition,” the company said in a regulatory filing.
The company will immediately start the process of finding her successor.
Prasad had joined the Mahindra Group in 2008 as COO of Mahindra World City Developers Ltd. She was promoted in 2013 and made the CEO of the Integrated Cities and Industrial clusters business.
She was appointed as the MD and CEO of Mahindra Lifespace Developers Ltd in 2018.
“Her leadership has propelled the Cities business and has helped chart the strategic way forward for the Residential segment. As a member of the Group Executive Board (GEB) and the Co-Chair of the Group Diversity Council, Sangeeta has helped drive Group-wide initiatives. I wish her the best in her new endeavours,” said Anand Mahindra, Chairman, Mahindra Group in a statement.
“I have worked with Sangeeta closely since her joining us in 2008. Her combination of strategic vision and operational rigour has always stood her in good stead,” said Arun Nanda, Chairman, Mahindra Lifespace Developers Ltd.
“It has been an extremely fulfilling journey for me with the Mahindra Group, which has enabled me to create a footprint beyond the Real Estate sector,” said Prasad.