New Delhi: TVS Motor Company announced on 5 June that Sudarshan Venu, its current managing director, has been appointed by the board to serve as its incoming chairman from 25 August.
The business stated in a statement that the appointment is in appreciation of his outstanding contributions to the company’s long-term growth and strategic development while serving as a director.
According to TVS Motor, Ralf Speth, the company’s current chairman, has notified the board that he would not be running for re-appointment as a director at the next Annual General Meeting (AGM). As a result, on 22 August, after the AGM, he will resign as chairman. Additionally, on 23 August, the board will name Speth as the company’s chief mentor for a three-year term.
“I express my sincere gratitude to Ralf for his exceptional leadership as chairman over the last three years. His contributions have been invaluable in guiding our strategic expansion into global markets and fostering innovation that has significantly strengthened our industry standing,” Srinivasan, chairman emeritus, TVS Motor Company, said.
“We are grateful for his continued support as chief mentor for TVS Motor and in welcoming Sudarshan into his new role. I am confident that Mr. Sudarshan, who in his capacity as managing director has demonstrated tremendous growth for the business, will take the company to even greater heights,” he added.
Meanwhile, Speth said: “It has been an honour for me to steer TVS Motor Company as its chairman over the last three years. I am grateful for the support, cooperation, and personal friendships developed during my tenure. As I hand over the chairmanship to Mr. Sudarshan, I am confident that under his leadership, the company will continue its growth journey while championing core TVS values. Mr. Sudarshan’s dynamism and passion underscore his vision for the business, and I am confident that TVS is in safe, responsible hands. I wish Mr. Sudarshan and TVS Motor a bright future ahead.”
While speaking about the decision by the company, Venu stated: “I am very thankful to the board for giving me this singular opportunity. I am really honoured and excited for the future and look forward to their continued support. TVS has been built on our chairman emeritus’s commitment to customer centricity, quality and technology. As we look to the future, we have to build on these values while capitalising on new opportunities and reimagining for the future. I am most grateful to him for his continued guidance.”
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