Michael Perschke leaves Pininfarina, Per Svantesson to replace him1 min read . Updated: 26 Mar 2020, 02:29 PM IST
The Mahindra Group had acquired Italy-based Pininfarina in late 2015 for an overall outgo of over 50 million euros after months of negotiations.
Mahindra and Mahindra (M&M) on Thursday said Michael Perschke has resigned as MD and CEO of its group firm Automobili Pininfarina.
Per Svantesson will take Perschke's role with immediate effect, as an interim arrangement, M&M said in a statement.
"Perschke has decided to leave his position as Managing Director and CEO of Automobili Pininfarina GmbH.
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His last day with the company will be March 25, 2020," M&M Managing Director and Automobile Pininfarina Chairman Pawan Goenka said.
Perschke had joined the company on July 1, 2018.
"He (Perschke) can look back on an impressive success story in developing a disruptive product and founding this organisation," he said.
On appointment of Svantesson, Goenka said he will work under the guidance of the company's board. The Mahindra Group had acquired Italy-based Pininfarina in late 2015 for an overall outgo of over 50 million euros after months of negotiations.
This story has been published from a wire agency feed without modifications to the text.