TVS Motor Company, a leading two- and three-wheeler manufacturer has announced changes to its board with the appointment of two new independent directors.
The company has announced that Chennai-based Sanmar Group Chairman Vijay Sankar, and Chairman of Shailesh Haribhakti & Associates Shailesh Haribhakti will join its Board as Independent Directors.
Kuok Meng Xiong, Independent Director of the Company, will be stepping down effective close of business hours of the ensuing Annual General Meeting 2024, owing to his increased business commitments and personal reasons.
TVS Motor Co states that his insights over his three-year stint were invaluable and instrumental in helping script the company’s growth story.
Sir Ralf Speth, Chairman, TVS Motor Company said, “I warmly welcome Sankar, and Haribhakti to the TVS Board of Directors. I am confident that our two new independent directors have the credentials to guide TVS Motor to new heights. Their insight and experience will prove invaluable as we script a new chapter of success for TVS Motor. I would also like to take this opportunity to thank Kuok Meng Xiong for all his invaluable work. Our Board and team have truly benefitted from his presence.”
Sudarshan Venu, MD, TVS Motor Company said, “Sankar and Haribhakti are stalwarts in their respective fields and bring immense experience and expertise with them. The TVS Motor Board will be greatly enriched by their joining and the company will benefit from their guidance in the next phase of our growth. I would also like to thank Kuok Meng Xiong for all his contributions to the Board over the last three years.”
Sankar, whose appointment becomes effective on March 20, 2024, holds several independent directorships and trustee positions, including at Oriental Hotels and the Transport Corporation of India. He is also the Honorary Consul General of Denmark in Chennai.
Haribhakti, who joins the board on April 1, 2024, is a certified internal auditor, financial planner and fraud examiner with over five decades of experience. He holds independent directorships with companies like Blue Star, Bajaj Electrical and L&T Finance Holdings among others. A champion of sustainability, he has been credited with establishing the concept of ‘Innovate to Zero’.
