Arun Sudhaman 24 Jul 2011 // 11:00PM GMT
MUMBAI--Indian conglomerate Mahindra Group, best known for its global automotive presence, is cutting ties with Genesis Burson-Marsteller and reviewing its $500,000 PR account.
Genesis Burson-Marsteller has handled the company’s PR account, including support for Mahindra’s global expansion, for the past two years. Its contract will not be renewed when it expires in September and Genesis B-M CEO Prema Sagar confirmed that the agency is not taking part in the Mahindra account review.
Sagar declined to provide further details as to the nature of the split, while Mahindra Group corporate communications head Roma Balwani would only confirm that the company will remain with Genesis Burson-Marsteller until mid-September.
In addition to handling Mahindra’s Indian operations, including its IT, retail and real estate businesses, Genesis B-M helped the company expand its automotive presence into Korea and the US. Mahindra & Mahindra (M&M) is the group’s flagship unit, manufacturing and selling a range of cars and trucks worldwide.
In particular, the company leads India’s utility vehicle segment and has expanded into passenger cars and motorbikes. M&M acquired Korea's SsangYong Motor Company this year, and was recently ranked as one of India’s top ten companies by the Reputation Institute.