Sundaram Clayton has rarely seen such swift boardroom churn, with a series of leadership changes unfolding over just a few days. That changed this week. The auto component maker from TVS Group on Monday said its Chairman Emeritus and Managing Director Venu Srinivasan was re-designated as Chairman and Managing Director with immediate effect, marking his return to the role nearly two years after stepping down as part of a broader succession plan.

The move follows R Gopalan stepping down as Chairman with immediate effect. He will, however, continue as a non-executive independent director, the company said in an exchange filing, adding that the board approved the changes at its March 27 meeting.

When did Gopalan take over?

Srinivasan had stepped down from the Chairman’s role in April 2022 was designated Chairman Emeritus and Managing Director when former bureaucrat Gopalan took over. In May 2022, Srinivasan’s daughter Lakshmi Venu was elevated as Managing Director of the company. 

ALSO READ

In a parallel development, the company said the board has rescinded its earlier decision to relieve P D Dev Kishan as Company Secretary and Compliance Officer. Kishan will now continue in the role until April 5, 2026, and thereafter remain Company Secretary and Compliance Officer as well as a Key Managerial Personnel, without any break in service.

This comes just days after the company, on March 27, had said Kishan would be relieved of his duties with effect from April 5, 2026, and had approved the appointment of Muthulakshmi as Company Secretary and Compliance Officer from April 6, 2026.

ALSO READ

The latest changes in a key managerial positions come a month after the board approved the appointment of R Venkatesh as Chief Executive Officer with effect from April 1, 2026, following the resignation of Vivek S Joshi, who will step down as CEO on March 31 citing personal reasons.

Gopalan, a former IAS officer, was appointed Chairman in April 2022 and has previously served in several key roles, including as a member of the Public Enterprises Selection Board until April 2016. Shares of the company closed at ₹1,189 on the NSE, down 7.34% on Monday and the markets are closed on Tuesday on account of Mahavir Jayanti.