NEW DELHI: Ralf Speth, former CEO of Jaguar Land Rover, has joined Chennai-based TVS Motor Company’s Board of Directors and will take over as Chairman in January 2023, when current chairman Venu Srinivasan will step down.
“Venu Srinivasan, Chairman of TVS Motor Company, who has built the company from 1980 to being among the top 5 global manufacturers of two and three-wheelers, will become Chairman Emeritus effective January 2023,” TVS said in a statement on Wednesday.
The appointment of Speth comes at a time when TVS is rapidly expanding in international markets and ramping up its presence in the fast growing premium motorcycle segment. TVS had last year also completed the acquisition of iconic British brand Norton and is expected to foray into cruiser segment with Zeppelin later this year. Additionally, the company has plans to increase its presence in electric mobility space.
“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,” said Srinivasan.
Kuok Meng Xiong, a scion of the Kuok Group and the founder of K3 Ventures, has been made an Independent Director. “MX brings a unique mix of strong corporate values and a clear vision of the future digital world,” said Srinivasan.