Bengaluru: Kotak Mahindra Prime Limited (KMPL), a subsidiary of Kotak Mahindra Bank, has announced a leadership transition approved by its Board of Directors, marking a new phase in the company’s growth journey.
The Board has appointed Suraj Rajappan as Managing Director & CEO for a three-year term, effective June 1, 2026, subject to shareholder approval. He succeeds Shahrukh Todiwala, who will superannuate on May 31, 2026, after more than three decades with the Kotak Group.
Rajappan, who began his career with KMPL, brings over 24 years of cross-functional experience within the organisation, positioning him to lead the company’s next phase of expansion.
Commenting on the transition, Ashok Vaswani, MD & CEO, Kotak Mahindra Bank, said, “Shahrukh leaves a strong legacy of prudent growth, risk discipline and customer centricity at Kotak Mahindra Prime. We welcome Suraj to the helm—his deep industry experience and execution abilities position KMPL well for its next phase of growth.”
Shahrukh Todiwala, MD & CEO, KMPL said, “Being a part of KMPL’s 30-year journey and contributing to its growth has been truly fulfilling, and leading the company has been an honour. I am confident that Suraj and the leadership team will build on this strong foundation and take KMPL to new heights.”
Suraj Rajappan, MD & CEO Designate, KMPL said, “I am honoured by the trust the Board has placed in me. KMPL will continue to focus on disciplined growth, innovation and best-in-class customer experience and further strengthen our partnership with all OEMs and dealer partners.”
A Legacy in Vehicle Finance
Established in 1996 as Kotak Mahindra Primus Limited—a joint venture between Kotak Mahindra Finance and Ford Credit International—KMPL was among India’s earliest organised car finance platforms. In 2005, Kotak Mahindra Bank acquired Ford Credit’s stake, making it a wholly owned subsidiary and renaming it Kotak Mahindra Prime Limited.
Over nearly three decades, KMPL has evolved alongside India’s automotive and consumer credit markets, building a strong foundation anchored in risk discipline, governance and institutional continuity, while remaining closely aligned with the Kotak Group’s broader financial services ecosystem.
