Apollo Tyres Elevates CFO Gaurav Kumar To The Board
The Board of Directors of Apollo Tyres Limited has approved the appointment of Gaurav Kumar, Chief Financial Officer, as Whole-time Director (categorised as Additional Director) with effect from June 1, 2024, for five years. Subject to the approval of shareholders of the company.
Gaurav Kumar has been the CFO since May 2015. He is responsible for the organisation’s overall financial health and stability, ensuring compliance with statutory guidelines and corporate governance policies. Kumar is a Director on the Board of Trusted Mobility Services. He is also a member of the Risk Management Committee of Apollo Tyres. He began his career as a management trainee with UB Group in 1993 and since then has donned many hats, from being an Executive Assistant to the Managing Director of a manufacturing set-up to being part of the acquisition and alliances team for an IT giant. In March 2004, he joined Apollo Tyres as Head of Corporate Strategy. Since then, he has played a leading role in numerous projects that have had a significant impact on the company’s revenue and profitability. He possesses a degree in mechanical engineering from the Indian Institute of Technology, Delhi, and a qualified MBA in finance from the Faculty of Management Studies, University of Delhi. He won the award for Best CFO in the Auto & Auto Components category in ASSOCHAM in the second Vibrant Bharat CFO Summit & Awards in February 2024, recognising excellence in financial leadership.
The company is also seeking shareholder approval in the ensuing AGM for the appointment of Sumit Dayal as an Independent Director of the company, effective August 6, 2024, for a period of 5 years. Appointment of Berjis Desai as an Independent Director of the company, effective August 6, 2024, for a period of 5 years.
Pallavi Shroff will cease to be the Director with effect from May 14, 2024, consequent to the end of her second term as an Independent Director.
Satish Sharma wishes to take early retirement to pursue his personal interests and hence has tendered his resignation as a Whole-time Director of the company and consequently as a member of the Risk Management Committee of the Board as well as from the Board of subsidiaries of the company where he is a Director, with effect from May 14, 2024. He will continue as President (APMEA) until the close of business hours on May 31, 2024, for a smooth transition of his role and responsibilities.
