Chennai headquartered Non Banking Finance Company Sundaram Finance Ltd., at its board meeting held today announced changes to its management team, starting 1 April 2021.
T.T. Srinivasaraghavan, Managing Director of Sundaram Finance, completes his term of office on 31 March 2021, and is retiring from service after 38 years with the company, the last 18 years as Managing Director. Under Srinivasaraghavan's tenure as Managing Director, the company has grown its balance sheet from under Rs. 800crores to over Rs. 30,000crores today. Over the last two decades, Srinivasaraghavan also led the diversification of the group from its traditional focus on medium and heavy commercial vehicles to a multi-product diversified financial services provider.
S. Viji, Chairman, Sundaram Finance said "Under his leadership the company has demonstrated its traditional focus on asset quality, and most importantly its adherence to "Sundaram Values" of prudence and customer focus. The company and its shareholders owe a debt of gratitude for his service."
T.T. Srinivasaraghavan added "It has been a great privilege and honour to lead this outstanding group of people who make up Team Sundaram, over all these years. Our enduring commitment to the Sundaram Values will ensure that Sundaram Finance scales greater heights under the new leadership team".
As a result of T.T. Srinivasaraghavan's retirement, the company at its board meeting, announced the following changes to the management team on I April 2021.
- Harsha Viji, Deputy Managing Director, will assume the office of Executive vice chairman, and take responsibility for the overall strategy and direction of Sundaram Finance Ltd., and other group companies in financial services
- Rajiv Lochan, Director (Strategy), will assume the role of Managing Director of Sundaram Finance Ltd. Rajiv brings a rich experience of 25 years, in financial services, then as a partner in the consulting firm MCKinsey & Company, and most recently, as Managing Director of Kasturi & Sons
- A.N. Raju, Director (Operations), will assume the role of Deputy Managing Director of Sundaram Finance Ltd.
- T.T. Srinivasaraghavan will remain on the board and play a mentorship role
Rajiv Lochan added "The strength of Sundaram Finance lies in its blend of tradition and service with cutting edge management processes and technology. This gives us a strong platform to grow in the years to come, and I Look forward to the challenge and responsibility of leading 'Team Sundaram' to greater heights".
Shares of SUNDARAM FINANCE LTD. was last trading in BSE at Rs.1822 as compared to the previous close of Rs. 1824.95. The total number of shares traded during the day was 573 in over 135 trades.
The stock hit an intraday high of Rs. 1831.45 and intraday low of 1799. The net turnover during the day was Rs. 1041560.