CHENNAI: Next-gen is coming to the forefront at TAFE as Lakshmi Venu, director of TAFE (Tractors and Farm Equipment), is appointed vice-chairperson of the company. She is the daughter of TAFE CMD Mallika Srinivasan and TVS Motor chairman emeritus Venu Srinivasan.
Said Mallika Srinivasan, CMD, TAFE, “Lakshmi Venu has been a key member of our leadership team and a member of TAFE’s board. With her leadership style that is focused on building for the future, we look forward to her leveraging TAFE’s collaborative, value-based approach towards its vision of ‘Cultivating the World’.”
Lakshmi Venu’s elevation ties in with the founder-family’s next generation heading both TAFE and TVS. While Lakshmi Venu is also MD at TVS group company Sundaram-Clayton, a leading automotive component manufacturer, her brother Sudarshan Venu is MD of TVS Holdings and also heads TVS Motor Company as MD. He is also the chairman of TVS Credit Services, the group’s NBFC.
Added P B Sampath, director, TAFE, “She carries the rich legacy of inherited values from the founder’s family and is sure to bring in an enriching dynamism into TAFE’s march into the future.”
Responding to her appointment as vice-chairperson at TAFE, Lakshmi Venu said, “I look forward to working closely with the board and the teams at Tafe and Eicher tractors to strengthen our organisation and drive continued success to achieve our strategic goals.” Lakshmi Venu’s appointment indicates that the ownership and management of TVS Holdings and TAFE is likely being aligned among the family members.
In March 2024, Venu Srinivasan announced that his family had executed an MoU to avoid competition among themselves. Among other things, Sudarshan had agreed that he and those controlled by him shall not use certain trademarks (including TVS) in relation to certain businesses.