The board of Sundaram Clayton (a TVS group company) has decided to confer certain additional responsibilities on Lakshmi Venu, daughter of TVS Motor Company Chairman Venu Srinivasan. In 2010, Ms. Lakshmi Venu was appointed as “Director-Strategy” in the rank of Managing Director of the company for a period of five years.
At its recent meeting, the board decided to allot additional responsibilities to Lakshmi Venu. She has been entrusted with the job of exploring business opportunities for expansion, both on the domestic and international fronts. Besides, she would also co-ordinate the company’s financial and budgetary activities to fund operations, maximise cost reduction efforts, and increase efficiency.
The board also revised the terms of remuneration, consistent with her shouldering these additional responsibilities, effective September 1. This is subject to approval of shareholders, the company said.