Lakshmi Venu, the daughter of TVS Motor chief Venu Srinivasan, has joined the board of Sundaram Clayton. The board of directors of Clayton, which met on Monday, inducted Lakshmi Venu, 25, as an additional director and she would be in-charge of strategy for five years.

The heiress of the TVS group is a graduate from the Yale University and holds a doctorate in engineering management from the University of Warwick. Besides, Venu underwent her initial training for three years as a management trainee in Sundaram Auto Components Limited, a subsidiary of Sundaram Clayton, beginning from 2003. Her younger brother, Sudarshan Venu, is at the Wharton School.

"Lakshmi Venu was also deputed to work in TVS Motor, another subsidiary of Sundaram Clayton, wherein she, pursuant to an extensive in-depth induction, has been working in the areas of business strategy, corporate affairs, product design and sales and marketing," a statement from Sundaram Clayton said.

The board of Sundaram Clayton already has other senior family members including Suresh Krishna (chairman of Sundram Fasteners), K Mahesh (CMD of Sundaram Brake Linings), T K Balaji (chairman of Lucas TVS), Gopal Srinivasan (CEO of TVS Capital Funds), besides Venu Srinivasan. Venu will be the eleventh director on the board.

"Venu went through the normal process of induction where she went through as a management trainee. The board thought that with her educational qualification she should be given additional responsibility and she will look after strategy for Clayton and TVS Motor," Venu Srinivasan told TOI.

Venu's mother, Mallika Srinivasan, manages the tractor major, Tafe, Venu Srinivasan heads TVS Motor and Sundaram Clayton with annual revenues in excess of $1 billion. 

vpost : 08

Source : Times of India

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Chennai: TVS Motor Company today announced the launch of its much awaited "TVS Jive", India's first clutchless bike, and "TVS Wego", an automatic scooter. Unveiling the new Motorcycle and Scooter, company's Chairman Venu Srinivasan said the two novel products, powered by 110 cc engine, would make a difference in riding as the whole focus has been to give the customers a stress-free and joyous riding.

''Ride convenience is the focal point and both products will provide a sporty riding experience with an unparalleled combination of comfort, performance, ease of operation and fuel efficiency,'' he said.

The Company had spent about Rs 25 crore on developing Jive and about Rs 50 crores on Wego, he said, adding unveiling of the two models would help the company to step up the sales of two wheelers by 35,000 to 40,000 units a month.

He said while Jive would be launched in December and sold across the country, Wego would be launched in January after the Auto Expo and the mass production of the scooter would begin during the second week of January. Both the Motorcycle and Scooter would be manufactured in the Company's Hosur facility, Mr Srinivisan said, adding the ex-show room price of Jive would be Rs 41,000 across the country and Wego Rs 42,500.

indianachu : 09

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