TVS MOTOR COMPANY INDUCTS TWO NEW INDEPENDENT DIRECTORS, FURTHER STRENGTHENS ITS BOARD

Bengaluru, March 20, 2024: TVS Motor Company (TVSM) — a leading global automaker that operates in the two and three-wheeler segments — today announced changes to its board with the appointment of two new independent directors subject to approval of the shareholders.

The two new members, who will join the board as independent directors, are Chennai-based Sanmar Group Chairman Mr. Vijay Sankar, and Chairman of Shailesh Haribhakti & Associates Mr. Shailesh Haribhakti.

Mr. Kuok Meng Xiong, Independent Director of the Company, will step down as independent director effective close of business hours of the ensuing Annual General Meeting 2024, owing to his increased business commitments and personal reasons. His insights over his three-year stint were invaluable and instrumental in helping script the TVSM growth story.

The appointment of the two new independent directors will add valuable experience to the board and raise the company’s already rigorous corporate governance standard.

Sir Ralf Speth, Chairman, TVS Motor Company said, “I warmly welcome Mr. Sankar, and Mr. Haribhakti to the TVS Board of Directors.  I am confident that our two new independent directors have the credentials to guide TVS Motor to new heights. Their insight and experience will prove invaluable as we script a new chapter of success for TVS Motor. I would also like to take this opportunity to thank Mr. Kuok Meng Xiong for all his invaluable work. Our Board and team have truly benefitted from his presence.”

Sudarshan Venu, Managing Director, TVS Motor Company said, “Mr. Sankar and Mr. Haribhakti are stalwarts in their respective fields and bring immense experience and expertise with them. The TVS Motor Board will be greatly enriched by their joining and the Company will benefit from their guidance in the next phase of our growth. I would also like to thank Mr. Kuok Meng Xiong for all his contributions to the Board over the last three years.”

Mr. Sankar, whose appointment becomes effective on March 20, 2024, holds several independent directorships and trustee positions, including at Oriental Hotels Ltd and the Transport Corporation of India. He is also the Honorary Consul General of Denmark in Chennai.

Mr. Haribhakti, who joins the board on April 1, 2024, is a certified internal auditor, financial planner and fraud examiner with over five decades of experience. 

He holds independent directorships with companies like Blue Star Ltd, Bajaj Electrical Ltd, L&T Finance Holdings Ltd, etc. A champion of sustainability, he has been credited with establishing the concept of ‘Innovate to Zero’. 

About TVS Motor Company

TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is a reputed two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia. Rooted in our 100-year legacy of trust, value, and passion for customers, it takes pride in making internationally accepted products of the highest quality through innovative and sustainable processes. TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for four consecutive years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate. For more information, please visit www.tvsmotor.com. 

For more information, please contact:

KS Harini - ks.harini@tvsmotor.com

Priyanka Kumar – Priyanka.kumar@tvsmotor.com