Family-owned Indian motorcycle manufacturer TVS Motor has appointed another member of the fourth generation to the group’s holding company, further strengthening the family’s presence in the business.
Twenty-two-year-old Sudarshan Venu has become an additional director of Sundaram-Clayton Limited, the holding company of TVS Motor, a spokesman confirmed.
“The appointment is part of the company’s ongoing succession planning. Venu will first be inducted into the business and his complete responsibilities will be chalked out over time,” he said.
Venu will work for both the holding company and the flagship two-wheeler business, the spokesman added.
Venu, son of chairman and managing director Venu Srinivasan, comes with a Master’s degree in International Technology Management from the University of Warwick in the UK. He has also worked part-time within the manufacturing division of the TVS holding company.
The family’s involvement in the Chennai-based business was further increased with Venu’s cousin Krishna rejoining the group after a two-year gap. The son of the director of the company, Krishna is now chief operating officer of one of the company’s subsidiaries.
Majority owned by the family, the move follows the appointment last September of Venu’s sister Lakshmi to the SCL board. Before becoming a board member, Lakshmi worked three years as a management trainee, and is today the director of strategy and export.
The third-largest motorcycle maker in India by sales, TVS Motor is the flagship company of the TVS Group, founded in 1923 by Sundaram Iyengar. The conglomerate operates in sectors including finance, manufacturing and distribution of auto components – around five next-generation members currently work in different divisions of the company.
TVS Motor is also expanding abroad and has plans to shift two-thirds of its export production from India to China – the company exports around 200,000 bikes every year.
TVS Group had revenues of $4 billion (€2.83 billion) for the year ending 31 March 2011.