The Board of Directors at their meeting held this evening have appointed Mr. Ravindra Kumar Kundu as the Managing Director of the Company.
The appointment is for a period of five years effective 7th October 2024.
Mr. Kundu has been the Executive Director of the Company since January 2020. Under his leadership, the Assets Under Management grew from Rs.67,000 crores in FY20 to Rs.1,53,000 crores in FY24 and profit before tax grew from Rs.1,500 crores in FY20 to Rs.4,500 crores in FY24.
Mr. Kundu has been with the Company for 24 years and has an overall experience of 36 years in automobile and financial services industry. Mr. Kundu has held leadership roles heading various functions including credit, collections and businesses.
Mr. Kundu is a Graduate in Commerce and has completed Post Graduate Programme in Management for Senior Executives from the Kellogg School of Management, Indian School of Business and an Executive Programme in Global Business Management from the Indian Institute of Management Calcutta.
About Cholamandalam Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers. Chola operates from 1438 branches across India with assets under management above INR 168832 Crores. The mission of Chola is to enable customers enter a better life. Chola has a growing clientele of over 37 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees and society.