After the Biyanis, Nadars and Godrejs, it is the turn of South India-based business groups to induct their ?young? into the top echelons of the family-run companies. With an eye on ensuring a smooth succession, and profiting from the GenNext?s ?impressive? educational credentials, leading companies in the region ? India Cements and TVS Motors ? recently made space for the promoters? daughters on the boards.
A few days back, Rupa Gurunath, daughter of N Srinivasan, promoter of the Rs 4,000-crore India Cements, was elevated to the board level as a whole-time director. Lakshmi Venu, daughter of Venu Srinivasan of TVS Motors, too, was recently elevated to the board of Sundaram-Clayton Ltd (SCL) as director, strategy.
In the last year or so, the GenNext has taken over key executives positions in a host of other companies in the region ? Sanmar Group, Murugappa Group and Apollo Hospitals.
?We thought it was the right time to promote Rupa to the board level as she has gained operational knowledge over the last 18 months or so,? said N Srinivasan of India Cements, adding, ?My daughter will assist me in board-level decisions and she will be groomed further in operational processes, system of governance, policy-making decisions and all other important aspects.?
Gurunath is a science graduate with a post-graduate diploma in computer applications. Apart from managing day-to-day operations, she has been vested with the responsibilities to draw up fresh strategies to make the company one of the top five players in the domestic cement manufacturing space. The move also assumes significance at a time when the company has embarked upon major expansion plans to touch 18-million tonne in the next financial year.
Considering her academic and corporate background, appointing Venu as director (strategy), the company and its subsidiaries would benefit immensely in the long-term, said Venu Srinivasan, TVS Motors chairman and also managing director of SCL.
Venu will monitor day-to-day operations and draw strategy for all the group companies, including TVS Motors and SCL. With the elevation, she will get exposure to new opportunities and challenges and spearhead the group companies into a newer growth path, according to Srinivasan.
Similarly, Vijay Sankar, son of N Sankar of the Rs 3,500-crore Sanmar Group, was elevated to the post of vice-chairman in the recent past and assigned to look after overall responsibilities, including the group?s operational management. Sankar holds a Masters in Business Administration from the JL Kellogg Graduate School of Management, Northwestern University, and is also a qualified chartered accountant.
Apart from organic growth of the main businesses, Sankar has been actively involved in Sanmar’s entry into overseas markets in the groups? core areas of strengths. He is responsible for overseeing the Egyptian and American Projects and set to steer the group?s turnover to Rs 5,000-crore in the near future.
Earlier, Arun Alagappan, son of MA Alagappan of the diversified Murugappa group, was assigned major operational responsibilities at TI Cycles India, one of the core businesses of Rs 16,000-crore Murugappa Group.
An MBA from Cardiff Business School of Wales in the UK, Alagappan, as head of retail business, has brought in new changes at major levels and introduced the modern retail format concept to sell cycles.
He has also taken the group into electric bikes through BSA Motors and set a mission to make BSA Motors as one of the leading e-bikes maker in India.