Mumbai: Tractors and Farm Equipment Limited (TAFE), a tractor manufacturer, has appointed Lakshmi Venu as its Vice Chairman. She currently serves as a Director at TAFE and is also the Managing Director of Sundaram-Clayton Ltd., a leading automotive component manufacturer.
A graduate from Yale University and holding a Doctorate in Engineering Management from the University of Warwick, UK, Lakshmi Venu has been instrumental in driving innovation and growth in the automotive sector. Her contributions have earned her numerous accolades, including being recognized as one of Business Today’s “Most Powerful Women in Business” in 2023 and Economic Times’ “Young Leaders – 40 under 40”.
The appointment comes as part of a broader restructuring within the TVS Holdings and TAFE Group, aligning ownership and management among family members. Lakshmi Venu, daughter of Venu Srinivasan (Chairman Emeritus, TVS Motor Company) and Mallika Srinivasan (Chairman & MD, TAFE), will now take on an expanded leadership role at TAFE and Sundaram-Clayton Ltd., while Sudarshan Venu, her brother and Managing Director of TVS Holdings Ltd., will continue leading TVS Motor Company, TVS Credit Services, and TVS Emerald.
In March 2024, Venu Srinivasan had announced a Memorandum of Understanding (MoU) among family members to clearly define business interests and prevent competition. As per the MoU:
- Sudarshan Venu and his entities will not use certain trademarks (including TVS) for businesses such as agricultural machinery and die-casting for OEMs.
- Mallika Srinivasan and Lakshmi Venu agreed not to use certain trademarks (including TVS) in relation to businesses such as two-wheeler and three-wheeler vehicles, financial services, and real estate.
