Sundaram Clayton shareholders on Saturday approved a resolution appointing R Venkatesh as director and chief executive officer (CEO) of the company. His appointment as director and CEO will be valid for five years from April 1, 2026, the Chennai-based auto component maker said in an exchange filing.
On March 5, the company had sought shareholder approval via postal ballot for Venkatesh’s appointment following the resignation of Vivek S Joshi, who announced that he will step down as CEO on March 31, citing personal reasons. Venkatesh’s appointment comes amid a flurry of boardroom and statutory-level changes at the TVS Group company in less than two weeks.
Last week, the company announced that Chairman Emeritus and Managing Director Venu Srinivasan had been re-designated as Chairman and Managing Director with immediate effect, marking his return to the role after stepping down as part of a broader succession plan in 2022. The move followed R Gopalan stepping down as chairman with immediate effect, although he will continue as a non-executive independent director.
The company also said its board has rescinded an earlier decision to relieve PD Dev Kishan as company secretary and compliance officer.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 key managerial personnel, without any break in service. The announcement came within two 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.
Kishan’s proposed exit was linked to concerns raised by MD Lakshmi Venu over governance processes, including the fact that the company secretary was not a full-time employee of Sundaram Clayton and was on the rolls of another group company. The company has since addressed the issue by reportedly making him a full-time employee and aligning his reporting structure within Sundaram Clayton.