Sundaram Clayton Limited has informed the Exchange regarding Outcome of Board Meeting held on March 30, 2026.
SUNCLAY · price
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The board of Sundaram Clayton approved three key changes on March 30, 2026. Mr R Gopalan stepped down as Chairman of the Company with immediate effect but will continue as a Non-Executive Independent Director. Consequent to this, Mr Venu Srinivasan, who was Chairman Emeritus and Managing Director, was redesignated as Chairman and Managing Director, consolidating both leadership roles with the promoter. Additionally, the board rescinded its earlier intimation regarding the change in Company Secretary, after Mr P D Dev Kishan withdrew his resignation. He will continue as Company Secretary and Compliance Officer without any break in service, and the proposed appointment of Ms M Muthulakshmi has been withdrawn.
The chairmanship has shifted from an independent director to the promoter (Venu Srinivasan of the TVS Group), concentrating significant board power with the promoter family. While the Company Secretary change reversal signals stability in compliance leadership, shareholders may view the loss of an independent Chairman as a governance concern.