TVS Motor inducts two new independent directors
BCCL
Synopsis
The two new board members are Chennai-based Sanmar Group’s chairman Vijay Sankar, and Shailesh Haribhakti of Shailesh Haribhakti & Associates, the company said in a press release.
By Rica Bhattacharyya, ET Bureau
Mumbai: Two- and three-wheeler maker TVS Motor Co has appointed two new independent directors, subject to approval of shareholders.
Meanwhile, Kuok Meng Xiong will step down as independent director after the 2024 annual general meeting, owing to his increased business commitments and personal reasons, according to the release.
“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,” TVS Motor said.
Sankar, whose appointment becomes effective March 20, holds several independent directorships and trustee positions, including at Oriental Hotels Ltd and Transport Corporation of India. He is also the honorary consul general of Denmark in Chennai.
Haribhakti, who will join the board on April 1, is a certified internal auditor, financial planner and fraud examiner with over five decades of experience.
He holds independent directorships with companies like Blue Star Ltd, Bajaj Electrical Ltd and L&T Finance Holdings Ltd.
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The two new board members are Chennai-based Sanmar Group’s chairman Vijay Sankar, and Shailesh Haribhakti of Shailesh Haribhakti & Associates, the company said in a press release.Meanwhile, Kuok Meng Xiong will step down as independent director after the 2024 annual general meeting, owing to his increased business commitments and personal reasons, according to the release.
“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,” TVS Motor said.
Sankar, whose appointment becomes effective March 20, holds several independent directorships and trustee positions, including at Oriental Hotels Ltd and Transport Corporation of India. He is also the honorary consul general of Denmark in Chennai.
Haribhakti, who will join the board on April 1, is a certified internal auditor, financial planner and fraud examiner with over five decades of experience.
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He holds independent directorships with companies like Blue Star Ltd, Bajaj Electrical Ltd and L&T Finance Holdings Ltd.
(You can now subscribe to our Economic Times WhatsApp channel)
