Who Are the Two New Independent Directors in TVS Motor?
TVS Motor Company, one of the leading manufacturers of two- and three-wheelers, has recently announced significant appointments to its Board of Directors, signalling a new chapter in the company’s pursuit of excellence and innovation. The Chennai-based conglomerate has welcomed two distinguished individuals, Vijay Sankar and Shailesh Haribhakti, as Independent Directors. These appointments come at a pivotal time for TVS Motor, as it continues to expand its footprint in the global automotive market and strives to meet the evolving needs of its customers with cutting-edge solutions.
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Vijay Sankar
Effective from March 20, 2024, Vijay Sankar, the Chairman of the Sanmar Group, will be joining the TVS Motor Board as an Independent Director. The Sanmar Group, headquartered in Chennai, is a global industrial conglomerate with diverse interests spanning chemicals, shipping, engineering, and metals, demonstrating Sankar’s vast experience in managing and leading businesses with a global footprint.
Vijay Sankar is not only recognized for his leadership within the Sanmar Group but also for his significant contributions as an independent director and trustee across various sectors. His roles include prestigious positions at Oriental Hotels and the Transport Corporation of India. Moreover, his diplomatic role as the Honorary Consul General of Denmark in Chennai underscores his expertise in fostering international relations and business collaborations, skills that are invaluable to a global player like TVS Motor Company.
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Shailesh Haribhakti
Joining the board on April 1, 2024, Shailesh Haribhakti’s appointment as an Independent Director is a testament to TVS Motor Company’s commitment to integrating robust financial oversight and innovative sustainability practices into its strategic planning. Haribhakti, a seasoned chartered accountant, brings over five decades of experience in auditing, financial planning, and fraud examination.
His leadership roles include chairmanship at Shailesh Haribhakti & Associates and independent directorships at prominent companies such as Blue Star, Bajaj Electrical, and L&T Finance Holdings, among others. Haribhakti is celebrated for his forward-thinking approach to sustainability, having established the pioneering concept of ‘Innovate to Zero’ – a testament to his commitment to driving businesses towards a zero-negative impact on the environment.
A Strategic Move for TVS Motor
The appointments of Vijay Sankar and Shailesh Haribhakti come at a critical juncture for TVS Motor Company, as it navigates the complex dynamics of the global automotive industry. Their extensive experience and unique perspectives are poised to enrich the company’s strategic direction, governance, and innovation capabilities.
Sir Ralf Speth, Chairman of TVS Motor Company, and Sudarshan Venu, MD, have both expressed their enthusiasm for the new appointments, emphasizing the valuable contributions they anticipate from the new Independent Directors. The company also extends its gratitude to Kuok Meng Xiong for his service and contributions during his tenure as an Independent Director.
As TVS Motor Company gears up for the future, the addition of Vijay Sankar and Shailesh Haribhakti to its Board of Directors is a clear indicator of its commitment to leadership excellence, sustainable innovation, and global expansion. Their expertise is expected to guide TVS Motor to new heights, as it continues to evolve and meet the challenges of a rapidly changing industry
