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Mahindra Logistics Limited (MLL) on Friday said it has completed the acquisition of Rivigo Services and appointed Sriram Venkateswaran as its Chief Executive Officer. MLL has stopped trading through its subsidiary MLL Express Service from November 10, the company said in a statement. The company announced the acquisition of Rivigo’s B2B express business in September this year, saying the deal would help accelerate its capabilities in this space.
Venkateswaran, who is currently MLL’s senior vice, sales, marketing and communications, will become CEO, while Sunil Singh will be chief operating officer (COO), the company said. According to the statement, Singh has held several operations and business leadership roles, most recently as COO of the express business at Rivigo Services. Swati Rane, who has spent more than two decades at the Mahindra Group with financial leadership spanning multiple functional areas, will join the leadership team as Chief Financial Officer (CFO), MLL said.
Rampraveen Swaminathan, MD and CEO, Mahindra Logistics Limited, said the company has a long-term vision to grow its B2B express logistics business in India and the combined strengths of the businesses enhance its ability to create long-term value for customers. Gurgaon-based Rivigo, now a brand of MLL Express Services, operates a pan-India B2B express network with a strong client base and a full-service technology suite. Its express network currently covers more than 19,000 pin codes across the country through more than 250 processing centers and branches spread over 1.5 million square feet. , cross-border logistics, last mile and B2B express logistics services. The integration of Rivigo’s network, technology and process capabilities will strengthen MLL’s existing B2B express business, it said.
(This story was not edited by Devdiscourse staff and was generated automatically from a syndicated feed.)
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