Board Meeting Details

The Board of Directors meeting was held on 28th August 2026, commencing at 9:45 AM (IST) and concluding at 10:15 AM (IST).

Key Appointments and Changes

Appointment of Mr. Peyman Kargar

  • Name: Mr. Peyman Kargar (DIN: 07906077)
  • Position: Director & Chief Executive Officer (D & CEO) in the rank of Whole Time Director and Key Managerial Personnel
  • Effective Date: 27th January 2027
  • Term: Five (5) years effective from 27th January 2027
  • Approval: Based on recommendation of the Nomination and Remuneration Committee
  • Background Check: Not debarred from holding office of Director by virtue of any SEBI order or other authority

Transition of Mr. K N Radhakrishnan

  • Name: Mr. K N Radhakrishnan (DIN: 02599393)
  • Current Role: Will continue as Director & CEO until 27th January 2027
  • Future Role: Will serve as Non-Executive Director until the date of the ensuing AGM scheduled in July 2027

Professional Background of Mr. Peyman Kargar

  • Currently serves as President – International Business of TVS Motor Company
  • Over three decades of automotive experience across Europe, Asia, and Middle East
  • Previous roles: Global Chairman & President of INFINITI (Nissan's luxury brand), Chairman and Senior Vice President for Nissan's Africa, Middle East, and India region, CEO of Datsun brand
  • Managed operations across more than 80 countries
  • Vice President of Sales & Marketing at Renault Group (2014-2017), managing 50 countries with €4 billion turnover and 400,000 vehicle annual sales
  • Previous roles include Managing Director of Renault Middle East and Country Manager Director in Iran
  • Education: MBA from London Business School, Mechanical Engineering from INSA de LYON

Company Performance Context

  • FY2025-26 record performance: 5.9 million vehicles sold globally with 30% revenue growth
  • International Business contributes 29% of company sales volume growing at 33%
  • Company has four manufacturing facilities in India and Indonesia
  • Only two-wheeler company to win Deming Prize
  • Ranked No. 1 in J.D. Power Customer Service Satisfaction Survey for four consecutive years

Management Commentary

Sudarshan Venu, Chairman: "Peyman is an accomplished global leader with deep industry experience, strategic vision and strong understanding of customers and markets. He is the right person to lead TVS Motor Company and further strengthen our position among the world's leading mobility companies."

Peyman Kargar: "Building on our momentum, we are entering into a new phase of growth, expanding our presence and further consolidating our position in India and global markets. The guiding principles of the TVS Way and its values will always be the North Star."

K N Radhakrishnan: "It has been a privilege to serve TVS Motor Company as CEO and work alongside an exceptional team. I am confident Peyman will lead TVS Motor Company with distinction."