Cholamandalam Investment and Finance Company Ltd. (Cholafin) has elevated Vellayan Subbiah to the position of executive chairman, effective April 1, 2025. Currently serving as the non-executive chairman, Subbiah will assume this new role for a five-year term, running through March 31, 2030.
The company’s board of directors approved the appointment during a meeting held on March 24. However, the elevation is contingent upon shareholder approval, which Cholamandalam will seek via a postal ballot as per the Companies Act, 2013, and SEBI regulations.
In his expanded role, Subbiah will also become a key managerial personnel within the organization. Cholamandalam confirmed that there are no regulatory restrictions preventing him from holding this office.
The board meeting also covered the approval of various other matters. On the same day, Cholamandalam’s shares closed 0.42 percent lower at ₹1,532 on the NSE.