TVS Motor Co, a leading manufacturer of two- and three-wheelers, has announced the appointment of two new independent directors, pending approval from shareholders.
The newly appointed board members are Vijay Sankar, Chairman of Chennai-based Sanmar Group, and Shailesh Haribhakti from Shailesh Haribhakti & Associates, as stated in a press release by the company.
Additionally, Kuok Meng Xiong will be stepping down as an independent director after the 2024 annual general meeting due to increased business commitments and personal reasons.
TVS Motor highlighted that the appointment of the two new independent directors will enhance the board's experience and elevate the company's already stringent corporate governance standards.
Vijay Sankar, whose appointment will be effective from March 20, holds several independent directorships and trustee positions, including roles at Oriental Hotels Ltd and Transport Corporation of India. He also serves as the honorary consul general of Denmark in Chennai.
On the other hand, Shailesh Haribhakti, who will join the board on April 1, brings over five decades of experience as a certified internal auditor, financial planner, and fraud examiner. He holds independent directorships with esteemed companies such as Blue Star Ltd, Bajaj Electrical Ltd, and L&T Finance Holdings Ltd.
