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TVS Holdings Elevates Sudarshan Venu to MD Role: New Era of Leadership

12 Sep 2023 , 10:59 AM

TVS Holdings Ltd’s board of directors appointed Sudarshan Venu as Managing Director for five years, effective immediately. Sudarshan Venu, currently the MD of TVS Motor Company, follows in the footsteps of his father, Venu Srinivasan, who assumed the role of Chairman Emeritus and MD of TVS Holdings Ltd in 2022.

In a generational transition strategy, Lakshmi Venu, daughter of Venu Srinivasan, was earlier elevated to the position of MD in May 2022, succeeding her role as Joint MD. R Gopalan serves as the Chairman of TVS Holdings Ltd, completing the leadership team.

Sundaram-Clayton Ltd was rebranded as TVS Holdings, acting as the holding company for investments in TVS Motor Company following the amalgamation of TVS Holdings Pvt Ltd and Sundaram-Clayton Ltd in June 2023. TVS Holdings currently holds a 50.26% stake in TVS Motor Company.

Financially, TVS Holdings demonstrated strong performance in FY23, with domestic sales at Rs 1,061 crore (a 22% increase from the previous year) and exports reaching Rs 919 crore (an 18% rise). Profit before tax stood at Rs 219 crore, showing a significant 38% increase.

Timm Tiller has been appointed as a non-executive independent director, and Sasikala Varadachari has been approved as an independent director for a second three-year term, starting October 24, 2023. TVS Motor Company re-appointed K N Radhakrishnan as Director & CEO for an additional five-year term from October 23, 2023.

These changes mark an exciting new chapter for TVS Holdings Ltd., signifying a commitment to growth, innovation, and generational leadership. Stay tuned for more updates on their journey.

For feedback and suggestions, write to us at editorial@iifl.com.
 

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