BackTVS Supply Chain Solutions board appoints R. Dinesh as executive chairman
S. Mahalingam steps down as chairman after completing his tenure of two terms as independent director, says TVS Supply Chain
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TVS Supply Chain Solutions Ltd (TVS SCS) announced on Tuesday that its board of directors has appointed R. Dinesh as executive chairman of the company.
S. Mahalingam has stepped down as chairman after completing his tenure of two terms as independent director, the company said in a statement.
“I thank our Chairman Mr. S. Mahalingam for his mentorship and guidance through his tenure at TVS SCS. TVS SCS is now at an inflection point and poised to open yet another new chapter of exponential growth in its illustrious history. We always believed in the Growth Framework – Customer, Capability, Country – as we built on the company's resilient business model with multiple drivers for profitable growth," said R. Dinesh in the statement.
TVS SCS also said K. Ananth Krishnan and Narayan K. Seshadri has been appointed as additional independent directors on its board.
After the latest appointments, the new board of the company will have 5 independent directors. The other 3 are Tarun Khanna, B. Sriram and Gauri Kumar.
“From its early years, TVS SCS perceived itself as a global multinational company. It continuously expanded its global footprint, while simultaneously creating local organisations, with a single name and purpose. I am happy that Mr. R. Dinesh, who has shown great entrepreneurship in building this organisation, will take over as the Chairman, as TVS SCS begins its journey as a listed company. I wish Mr. Dinesh and team all the best as he takes TVS SCS to greater heights," S. Mahalingam, the outgoing chairman, said in the statement.
TVS SCS, a part of TVS Mobility Private Ltd, got listed on the stock exchanges on August 23 after a successful initial public offering (IPO).
Last week, its IPO was subscribed 2.78 times. The ₹880-crore IPO had a price range of ₹187-197 per share.
Shares of TVS Supply Chain Solutions Ltd on Tuesday closed at ₹200, up 1.32%.
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