Chennai, Apr 1 (PTI): Rane Holdings Ltd., part of Rane Group, today announced key management changes with immediate effect, with L Lakshman being Chairman Emeritus and L Ganesh elevated as chairman of the Board and Managing Director.
The Board of Directors unanimously invited L Lakshman, who attained super annuation on March 31, 2017 as Executive Chairman and Managing Director, to be the Chairman Emeritus.
Lakshman has been serving the company since October 1992.
On the request of the Board, Lakshman also agreed to continue as Non-Executive Director of the Board of Rane Holdings Ltd.
Company Vice Chairman L Ganesh has been elevated as Chairman of the Board and Managing Director, Rane Holdings Ltd with immediate effect.
Ganesh has been serving Rane Holdings Ltd as its Vice-Chairman since October 1992.
“I am happy and honoured that the Board has requested me to take on the responsibility as Chairman of the Board. Under Lakshman’s leadership, Rane Group has scaled great heights and has become a trusted supplier of safety critical components, globally”, Ganesh said.
“As we look ahead, we will ensure maintaining the trust and confidence reposed in us by all the stakeholders — customers, employees, shareholders, vendor-partners”, he said.
Harish Lakshman, who has been on the Board as Director, was also elevated as Vice-Chairman, Rane Holdings Ltd with imediate effect.
“I am honoured to be appointed as Vice-Chairman of the Board. I look forward to continue working with board and executives of group companies”, Harish Lakshman said.
Rane Group is a major supplier to OEMs in India and overseas. Through group companies, the company serves various industry segments including passenger vehicles, commercial vehicles, farm tractors, railways, it added.
This is published unedited from the PTI feed.