Venu Srinivasan will now become the chairman emeritus of TVS Motor
TVS said the appointment has been made keeping in the mind the future of the company where it has to face multiple challenges from the emergence of electric technology and tightening emission norms
TVS Motor Co. Ltd on Wednesday named former Jaguar Land Rover chief executive Ralf Speth as director, who will move up to become chairman in 2023.
“Sir Ralf is widely acclaimed for his tremendous leadership at Jaguar Land Rover and for transforming it into the global marque it is today. He continues to serve on its board as vice chairman as also on the board of Tata Sons," the Chennai-based two-wheeler maker said in a statement.
Chairman Venu Srinivasan will become chairman emeritus effective January 2023,, the statement added.
TVS said the appointment has been made keeping in the mind the future of the company where it has to face multiple challenges from the emergence of electric technology and tightening emission norms.
“It is a momentous occasion for TVS Motor Company to welcome Ralf to its board. His passion for technology, eye for products and commitment to building brands are truly remarkable. His thoughts will add immensely to TVS Motor as the company shapes itself for the future. Ralf’s deep insights and guidance will be invaluable to the management team as TVS Motor Company embraces the future of mobility," Srinivasan said in the statement.
Speth started his career with the BMW group and served as the chief executive of Tata Motors-owned Jaguar Land Rover for 11 years. Under his leadership, the British carmaker expanded its manufacturing capacities across geographies and enhanced its sales performance in countries like China.
On Wednesday, TVS Motor also appointed Kuok Meng Xiong as an independent director to its board.
“MX is the scion of the Kuok Group, one of Asia’s most respected business houses and the founder of venture firm K3 Ventures. He started his career at the Group’s Shangri La Hotels, expanding it to Europe, West Asia and Sri Lanka. He started the venture firm K3 where he has led early investments in 38 of the world’s leading startups and many Asian unicorns," the company said in the statement.