The Chennai-based TV Sundram Iyengar & Sons Limited, the holding firm of $6.5 billion TVS Group has announced the appointment of Suresh Krishna as its Chairman with effect from March 18, 2015 succeeding R. Ramachandran.
According to a company statement, TVS & Sons will be applying to the Registrar of Companies to convert to a private limited company from public limited company. The Board and the shareholders of TVS & Sons have approved this proposal as the new Companies Act facilitates the same and this reflects the shareholding structure of the company i.e. family owned.
Suresh Krishna, 78, is also the Chairman and Managing Director of Sundram Fasteners Ltd. He has held various top positions in the industry forums including the President of ACMA during 1982-84 and the President of CII between 1987 and 1988.
Business and industry organisations have also recognised Suresh Krisha’s contribution. He was awarded with many accolades such as the prestigious ‘Sir Jehangir Ghandy Medal for Industrial Peace’ by XLRI; ‘Businessman of the Year 1995’ by Business India Magazine, ‘Juran Quality Medal’ by the Indian Merchants Chamber, Mumbai; the prestigious ‘JRD Tata Corporate Leadership Award’ by the All India Management Association. The Asian Productivity Organisation, Japan, conferred the National Award for 2000 (for India) on Suresh Krishna, for his outstanding contribution towards productivity improvement in the country during the previous five years. The Government of India conferred the Padma Shri award on Suresh Krishna in 2006.
TV Sundram Iyengar & Sons (TVS & Sons) Limited, established in 1911, is the holding company of the TVS Group and is a leading automobile distributor in India. During the year 2013-14 the company attained a turnover of over INR 6300 Crores and has direct employee strength of over 10000. It operates its business through its three divisions namely – TVS, Sundaram Motors and Madras Auto Service. Being the trading and distribution arm of the group, the business activities of TVS & Sons includes dealerships for Automobile vehicles, Distribution of spares for aftermarket, Sales and Service support for garage equipment, sales and service of products for special applications like Construction & Material handling.