Ralf Speth, who joined the TVS Motor Company Board of Directors on Wednesday, will take over as Chairman in January 2023. Venu Srinivasan will become Chairman Emeritus at that point in time.
The former CEO of Jaguar Land Rover has been appointed to the TVS Motor Board ‘with a clear eye on the future’. Speth was the architect who created the modern JLR and continues to serve on its Board as Vice-Chairman as well as on the Board of Tata Sons.
In a telephone interview with Autocar Professional, TVS Motor Chairman, Venu Srinivasan said the auto industry veteran brings to the table “enormous capabilities and proven leadership at JLR which is today a global brand with outstanding quality and style”. What is more critical, from TVS Motor’s point of view, is Speth’s deep knowledge of the automotive industry.
“Ralf is very well connected with the leaders of the industry and has great domain knowledge of technologies. He brings credibility and respect,” added Srinivasan.
His knowledge of connected, electric and digital vehicles will also be very important to TVS Motor as it embarks upon new challenges. As future Chairman, he would be able to guide and mentor TVS Motor to “build an entity that is faster, agile and more driven”.
The company has global aspirations especially with the acquisition of Norton Motorcycles of the UK in April last year. “Ralf will mentor TVS in creating a strategy for North America and Europe with premium vehicles from Norton and TVS Motor,” said Srinivasan.
The company also announced the appointment of Kuok Meng Xiong (MX) as an Independent Director. MX is the scion of the Kuok Group and the founder of venture firm K3 Ventures. AT K3, he led early investments in 38 of the world’s leading startups and many Asian unicorns.
Some of his early investments include Grab, Bytedance, Palantir, Airbnb, GoPay, Wiz.ai, SpaceX and many others. MX is also on the Board of many Kuok Group Companies and the advisory Board of TPG, among others. “His experience will hold us in good stead. MX brings a wide spread of knowledge particularly in digital transformation,” said Srinivasan.