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Business EconomyPosted at: Mar 21 2024 12:00AM


TVS strengthens Board, inducts 2 Independent Directors

Chennai, Mar 20 (UNI) Two and three-wheeler makers TVS Motor Company (TVSM) on Wednesday strengthened its Board with the induction of two Independent Directors, subject to approval of the shareholders.
The two new members, who will join the board as independent directors, are Chennai-based Sanmar Group Chairman Vijay Sankar and Chairman of Shailesh Haribhakti and Associates Shailesh Haribhakti.
Mr.Sankar's appointment becomes effective from today, while Mr. Haribhakti, will join the board on April one.
Mr. Kuok Meng Xiong, Independent Director of the Company, will step down effective close of business hours of the ensuing Annual General Meeting 2024, owing to his increased business commitments and personal reasons.
The appointment of the two new independent directors will add valuable experience to the board and raise the company’s already rigorous corporate governance standard.
Sir Ralf Speth, Chairman, TVSM said, “I warmly welcome Mr. Sankar, and Mr. 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 the company."
"I would also like to take this opportunity to thank Mr. Kuok Meng Xiong for all his invaluable work. Our Board and team have truly benefitted from his presence”, he said, according to a company release.
Mr Sudarshan Venu, Managing Director, TVSM said, “Mr. Sankar and Mr. Haribhakti are stalwarts in their respective fields and bring immense experience and expertise with them. The TVSM 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 Mr. Kuok Meng Xiong for all his contributions to the Board over the last three years”, he said.
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Tags: #TVS strengthens Board# inducts 2 Independent Directors
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