CHENNAI: TVS Motor is pushing its GenNext into leadership roles. Signalling its succession plans, TVS Motor on Wednesday appointed Sudarshan Venu, son of its chairman and MD Venu Srinivasan, as joint managing director, while daughter Lakshmi Venu will join the board as an additional non-executive director. Sudarshan (24), the younger of the two siblings, has been a whole time director of the company since February 2013.
In a statement, the company said: "Sudarshan Venu, as whole-time director of the company, has been actively participating in the activities of the company and has considerably increased his engagement in and contribution to the progress of the company." The statement went on to add that Lakshmi Venu has been appointed non-executive director "in order to strengthen the board further". Both appointments are effective immediately. Although he will now effectively jointly helm TVS Motor, Sudarshan Venu will continue to function under the "advice and guidance of Venu Srinivasan", the statement said. Lakshmi Venu will serve as "the woman director on the board in compliance with the provisions of Companies Act", the statement added.
Both brother and sister have been given increasingly important and strategic roles in both TVS and Sundaram Clayton in the past few years. Sudarshan Venu was VP at TVS Motor from December 2011 and its wholetime director since February 2013. He underwent hands-on training at the die casting division of Sundaram Clayton and TVS and has been a non-executive and non-independent director of Sundaram Clayton since September 2011.