TVS Motor Company has announced the appointment of global automotive industry icon Ralph Spieth as non-executive and non-independent director. He is set to become chairman of the company by January 2023 and will succeed Venu Srinivasan, who will emerge as chairman by then.
On Wednesday, the board included Kuok Meng Xiong as a non-executive independent director of the Kuok Group, and in a statement accepted the resignation of TVS Motor director Rajesh Narasimhan.
Mr. Speth has been widely acclaimed for his leadership in Jaguar Land Rover (JLR) and his transformation into a global marquee brand.
He continues to serve on his board as vice chairman, apart from being on the board of Tata Sons.
The board of TVS Motor announced a second interim dividend for FY21 at the rate of ₹ 1.40 per share, with an amount of ₹ 66.51 crore, while Sundaram Clayton announced a ₹ 11.2 million share, absorbing ₹ 22.26 crore Of.
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