Diversified financial service company Shriram Group on Tuesday announced its succession plan and the creation of a board of management. Addressing the media, its Founder R Thyagarajan said the promotership of the group has already been transferred to Shriram Ownership Trust (SOT).

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The board of management would comprise Shriram Capital Managing Director DV Ravi; Shriram Capital Whole-time Director R Duruvasan; Shriram Capital Non-Executive Director and Shriram Transport Finance Company Vice Chairman and Managing Director Umesh Revankar and Shriram Capital Non-executive Director and Shriram General Insurance Company Executive VC Jasmit Singh Gujral.

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"The growth of Shriram Group should be attributed to the strong leadership team, which has evolved over a period of time. The leadership team, comprising senior executives across the group's various entities has been instrumental in developing the enterprises to their current growth and profitability level," Thyagarajan said.

The board of management will be responsible for defining the long-term strategy of the individual entities and the group and overseeing its execution. Thyagarajan will mentor the board of management of Shriram Ownership Trust.

First Published:Nov 30, 2021 5:22 PM IST