Mr. R. Sridhar, Managing Director of Shriram Transport Finance Company Ltd. (STFC), has been appointed Managing Director & Chief Executive Officer of Shriram Capital Ltd. (SCL) with effect from April 1. He will continue to serve on the STFC Board as a nominee of the Shriram Group.
In order to take up his new responsibilities in Shriram Capital, Mr. Sridhar will be relocating to Chennai. He will be involving himself in a number of group level activities, including strategic planning, capital markets relationship, rating agencies, etc., as well as investor relations for all the financial services entities within the group.
SCL is the apex holding company for the financial services entities in the Shriram Group, where the Shriram Ownership Trust holds 85 per cent stake and Texas Pacific Group the balance 15 per cent.
Mr. Arun Duggal, Chairman of Shriram Capital, said: “Mr. Sridhar has done a commendable job in the last many years, and I am delighted on his appointment as Managing Director and Chief Executive Officer of Shriram Capital. This move had been planned for several months to take advantage of the relationships Mr. Sridhar has built with the financial community, regulators, media and others on a broader platform of Shriram Capital. I look forward to working closely with Mr. Sridhar in the coming years to further strengthen and grow Shriram Capital.”
Mr. Sridhar has been associated with STFC since 1985. He was appointed Managing Director of STFC for the first time in 2000 and was reappointed in 2005. Under his leadership STFC grew by leaps and bounds and has become the largest asset financing NBFC in India.