Sanjay Jayavarthanavelu, Managing Director, Lakshmi Machine Works Ltd, was today elected by the company’s board of directors as Chairman and re-designated as Chairman and Managing Director of LMW with effect from today.
This follows the decision of R. Venkatrangappan to relinquish his positions both as Chairman of the board of directors and Director of LMW with effect from October 15.
Sanjay Jayavarthanavelu became a member of the Board on Feb 24, 1993 and was appointed as Wholetime Director with effect from June 3, 1994. He assumed office as Managing Director with effect from September 10, 2010 following the demise of his father D. Jayavarthanavelu, who was the CMD of LMW, in June 2010.
Apart from being CMD of LMW, which is one of the three leading textile machinery manufacturers in the world, Sanjay Jayavarthanavelu is a director in 11 other companies.
He is the past Chairman of the Textile Machinery Manufacturers’ Association India and is a member of the Executive Committee of FICCI.