Mumbai: Keshub Mahindra, Chairman Emeritus of Mahindra & Mahindra (M&M), passed away at the age of 99 this morning in Mumbai.

His death was confirmed by Pawan Goenka, the former Managing Director of M&M, on his personal Twitter handle. A spokesperson for the company separately confirmed the news. A formal statement will be issued in due course.

Keshub Mahindra joined his father’s company, which started by manufacturing and selling utility vehicles, in 1947. He was the Chairman of the conglomerate from 1963 to 2012. On his retirement, he had named his nephew Anand Mahindra as his successor.

Keshub, a graduate of Wharton, University of Pennsylvania, has been credited for transforming the company from an assembler of Willys Jeeps in India to a diversified conglomerate. A well-known philanthropist and businessman, Keshub has served on the boards of several companies, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels and ICICI. He was also Vice-Chairman of the Housing Development Finance Corp.

He was appointed by the Government of India to serve on many Committees including the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries.

In 1987, he was awarded the Chevalier de l’Ordre National de la Legion d’honneur by the French Government. From 2004 to 2010, Mahindra was a Member of the Prime Minister’s Council on Trade & Industry, New Delhi.