Mallika Srinivasan has taken over as the new chairperson of Chennai-based tractor manufacturer Tractors and Farm Equipment Limited (Tafe) and of TAFE Motors and Tractors Limited. This follows the recent death of the company chairman and managing director A Sivasailam.
Mallika Srinivasan was holding vice chairperson's office in the two companies. The board of Tractors and Farm Equipment Limited and of TAFE Motors and Tractors Limited have unanimously elected Mallika Srinivasan as chairperson with immediate effect.
Apart from her responsibilities as the chairperson, she would continue to discharge her present duties as chief executive of the two companies, according to company sources.
On January 12, the Rs 7,000-crore Amalgamations group chairman A Sivasailam died after a brief illness.
Fity-two-year-old Mallika Srinivasan is the daughter of Sivasailam. She is married to Venu Srinivasan, chairman and managing director of TVS Motor, and has two children.
Mallika Srinivasan completed her MA (Econometrics) from Madras University and did her MBA at Wharton School of the University of Pennsylvania. In 1986, she joined Tafe, then a small part of Amalgamations group.
Industry sources said she was instrumental in modernising and introducing technologically advanced products, which helped the company to grow to the current level. Tafe, which was a $20-million company in 1986, has crossed a consolidated turnover of over $1 billion.