R Sridhar to drive Shriram insurance

CHENNAI: R Sridhar, managing director and CEO, Shriram Capital has quit from his full-time executive role in the company. He will now spearhead insurance and fund raising activities of the group.
Sridhar will continue to work on strategic projects of the group as a member of Shriram Ownership Trust, a senior group official said. “There are media reports of a rift between members of the senior management and financial investors.There is no truth in that. Since Sridhar is getting to an active role with insurance business, we thought there could be a potential conflict of interest in his role as a CEO of the holding company and therefore he quit as CEO,” the official said.
“As CEO of Shriram Transport Finance for 12 years from 2000 to 2012, Sridhar has contributed immensely and made the company achieve a leadership position amongst NBFCs in the country,” R Thyagarajan, founder of Shriram Group said in a statement.