NEW DELHI, Mar 18: Auto components maker, Rane Group on Monday announced a top management change with L Ganesh set to retire as Chairman from the operating entities of all group firms effective March 31, 2024.
Subsequently, Harish Lakshman will take over as Chairman of the group from April 1, 2024, Rane Group said in a statement.
The Chennai-based group, however, said Ganesh will continue to serve as a non-executive director on the group entities and continue as Chairman and Managing Director of Rane Holdings Ltd.
Ganesh became Chairman of Rane Group in November 2006. During his tenure, the group has grown from Rs 1,050 crores to about Rs 7,200 crore and enhanced the export sales from 12 per cent to 24 per cent, the statement said.
He pioneered the TQM (Total Quality Management) movement and three of Rane businesses won the coveted Deming Grand Prize under his leadership. He was conferred with the Deming Award in recognition of his contribution to the dissemination and promotion (overseas) of TQM in 2022, it added.
His successor Lakshman has been involved in the corporate management of Rane Group from 2012 and became its Vice Chairman in 2017. He joined ZF Rane Automotive India (erstwhile Rane TRW Steering Systems) as AGM, marketing in 1998, and rose through the ranks and became Managing Director in 2008.
Rane Group is primarily engaged in manufacturing auto components for over five decades. Some of the group firms include Rane Engine Valve Ltd, Rane (Madras) Ltd, Rane Brake Lining Ltd, ZF Rane Automotive India Pvt Ltd, Rane NSK Steering Systems Pvt Ltd and Rane Auto Parts. (PTI)
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