Gen Next takes over at Sundram Fasteners Ltd

Chennai: Gen Next is taking over the reins at top auto component company Sundram Fasteners Limited (SFL), part of the $7.2 billion TVS group. In a meeting held on Thursday, the SFL board has announced the retirement of Suresh Krishna as the managing director of the company, effective April 20, 2018 after more than 5 decades in the corner room. He will, however, continue to be a director and chairman of the board.

Krishna will be succeeded by his two daughters Arathi and Arundhathi Krishna.

Elder daughter Arathi Krishna has been appointed as the MD of the company, effective April 20, 2018. She has served as the joint MD since 2011, and has been on the board since 2006.

“Under her leadership, several new product lines were set up and stabilised leading to a robust growth and operating performance,’’ said a company statement. Her younger sister Arundathi Krishna has been appointed joint MD effective April 20, 2018. She has served as the deputy MD of the company since 2013, and has been on the board since 2008. “She oversees the operations of the domestic subsidiaries and the international subsidiaries in China and England,’’ said the statement. Suresh Krishna founded SFL in 1964 and has been at the helm of the business operations since its inception.

Forty nine-year-old Arathi Krishna is a gold medallist in economics from Madras University and did her MBA from Michigan University, US. She has been associated with SFL as an executive since 1992.

Forty two-year-old Arundhati Krishna is an MBA from University of Michigan and has an MA in Econometrics from University of Madras.

“The board feels confident that given their past experience in the company as well as the significant contribution they have made, they (Arathi and Arundhathi Krishna) will continue to strive towards rewarding all the stakeholders,’’ said the company statement.

The new bosses have their work cut out for them. SFL has had good run in terms of profits and margins so far thanks to the pick up in automobile demand but headwinds like rising commodity prices could create pressure in the quarters ahead. Suresh Krishna founded the company in the year 1964 and has since been at the helm of the business operations.

Stay informed with the latest business news, updates on bank holidays and public holidays.

Unlock Investment Potential: Enroll in ET's Stock Valuation Workshop - Batch 3. Secure Your Spot Now!