Sundaram Finance on Wednesday introduced that Rajiv Lochan, director of technique, will assume the position of MD with impact from April 1. TT Srinivasaraghavan, the present MD, completes his time period on March 31 and is retiring from service after 38 years with the corporate, the final 18 years being the MD.
Harsha Viji, deputy MD, will assume the workplace of govt vice chairman, and take duty for the general technique and path of Sundaram Finance and different group corporations in monetary companies.
AN Raju, director of operations, will assume the position of deputy MD whereas Srinivasaraghavan will stay on the board and play the position of a mentor.
Below Srinivasaraghavan’s tenure as MD, the corporate grew its steadiness sheet from below Rs 800 crore to over Rs 30,000 crore at present.
S Viji, chairman, Sundaram Finance, stated: “Below his management, the corporate has demonstrated its conventional give attention to asset high quality, and most significantly its adherence to ‘Sundaram Values’ of prudence and buyer focus. The corporate and its shareholders owe a debt of gratitude for his service.”
Srinivasaraghavan stated: “It has been an excellent privilege and honour to guide this excellent group of people that make up Group Sundaram over all these years. Our enduring dedication to the Sundaram Values will make sure that Sundaram Finance scales better heights below the brand new management crew”.
Rajiv Lochan stated, “The energy of Sundaram Finance lies in its mix of custom and repair with cutting-edge administration processes and expertise. This offers us a powerful platform to develop within the years to come back, and I look ahead to the problem and duty of main ‘Group Sundaram’ to better heights.”