TVS Holdings Ltd's board of directors has appointed Sudarshan Venu as Managing Director for a five-year term, effective immediately. Sudarshan Venu, who currently serves as 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.
As part of a generational transition strategy, Lakshmi Venu, daughter of Venu Srinivasan, was earlier promoted 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.
Formerly known as Sundaram-Clayton Ltd, TVS Holdings was rebranded as the holding company for investments in TVS Motor Company after the amalgamation of TVS Holdings Pvt Ltd and Sundaram-Clayton Ltd in June 2023. Currently, TVS Holdings holds a 50.26% stake in TVS Motor Company.
Financially, TVS Holdings demonstrated strong performance in FY23, with domestic sales reaching 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, indicating 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 has 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, reflecting a commitment to growth, innovation, and generational leadership. Stay tuned for more updates on their journey.
