TVS Motor Company, India’s third largest two-wheeler manufacturer, has announced the next-generation’s ascent appointing 36-year-old Managing Director Sudarshan Venu as Chairman effective August 25. He will be redesignated as Chairman and Managing Director.
The appointment is in recognition of his “exemplary contributions” to the company’s sustained growth and strategic development during his tenure as director, TVS Motors said in a statement.
A graduate with Honors in the Jerome Fisher Program in Management and Technology from the University of Pennsylvania, Venu will now chart the future of the ₹36,000-crore auto major. Under Venu’s leadership, TVS Motor has already seen a turnaround in market share, and he has also played a pivotal role in the company’s global expansion in Africa, ASEAN and Latin America.
TVS’ current chairman, Sir Ralf Speth, has informed the board that he will not be seeking re-appointment at the upcoming annual general meeting (AGM). Consequently, he will step down as Chairman of the company at the close of the AGM on August 22, the company said.
The board will also be appointing Sir Speth as Chief Mentor of the company for a period of three years effective August 23, 2025 to ensure continued benefit from his knowledge, experience and expertise.
Venu Srinivasan, Chairman Emeritus, TVS Motor Company, said, “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.” He added, “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 Sudarshan, who in his capacity as Managing Director has demonstrated tremendous growth for the business, will take the company to even greater heights.”
Growth journey
Sir Ralf Speth, said, “As I hand over the Chairmanship to Sudarshan, I am confident that under his leadership, the Company will continue its growth journey while championing core TVS values. Sudarshan’s dynamism and passion underscore his vision for the business, and I am confident that TVS is in safe, responsible hands. I wish Sudarshan and TVS Motor a bright future ahead.”
“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’ 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,” Sudarshan Venu, said.
Sudarshan Venu is also the Managing Director of TVS Holdings Ltd, the holding Company and the Chairman of TVS Credit Services Ltd, the NBFC arm of the group.
His appointment as the chairman follows the company’s steps over the last one year towards succession planning. The family members executed an MoU last year to plan future management of the company. In April this year, TVS Holdings and TVS Motor Company initiated a transition in ownership, reinforcing their succession plan with Sudarshan Venu officially becoming a Significant Beneficial Owner.
The company’s share price on the NSE closed ₹2,722.20, down by ₹38.20 (-1.38 per cent)