BENGALURU: TVS Motor Company on Wednesday 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 Vijay Sankar, and Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates. Kuok Meng Xiong, independent director of the company, will step down from his role effective close of business hours of the ensuing annual general Meeting 2024, owing to his increased business commitments and personal reasons.
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.
Sankar, whose appointment became effective from 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.