Sudarshan Venu, son of Venu Srinivasan, has taken over as the Managing Director of TVS Motor Company.
Until yesterday, he was the Joint Managing Director of the company.
His elevation coincides with the appointment of Prof Sir Ralf Dieter Speth as the Chairman of the company.
Venu Srinivasan has now become the Chairman Emeritus of the company.
This is the first time that the chairmanship of the company has gone to a non-family member.
No doubt, the much-talked-about rule regarding splitting of the CMD (chairman-cum-managing director) post never really saw the light of the day. But Mr. Venu Srinivasan went ahead to implement it of his own volition.
Effectively, he has passed on the baton to his son with Sudarshan Venu now becoming the Managing Director.
The elevation of Sudarshan is significant and comes in the wake of a family arrangement that has seen the four families in the TVS group go their separate ways following a legal settlement.
TVS Supply Chain Solutions, which has now queued up for IPO (initial public offering), too, has a non-family as the chairman. Former CFO of TCS, Mahalingam, is the chairman of TVS Supply Chain Solutions, which belongs to the TVS Mobility group headed by R.Dinesh.
“I am very thankful for this special opportunity and very excited for the future. With the continued guidance of my father and Sir Ralf and the support of the board and team, I look forward to further embracing the future of mobility. This is an interesting time for the industry globally, and I am passionate about being at the forefront of this,” Sudarshan said.
“Sudarshan’s extraordinary efforts have witnessed key decisions to develop aspirational products and grow fast in India and overseas. He has also led some key acquisitions and the expansion of group companies. We are confident that under his leadership, TVS Motor will transform into a leading mobility player globally,” Venu Srinivasan said.
Sudarshan, if sources are to go by, is personally driving some of the key initiatives of the company on the mobility front. A tech buff, Sudarshan has shown a penchant for innovation. Industry sources credit him for his decision-making ability. Recently, he was inducted into the board of one of the Murugappa group companies.
He has played a pivotal role in the company’s growth in India and key international markets, including Asia, Africa, and, more recently, Europe.