MUMBAI – Kotak Mahindra Prime Limited (KMPL), the vehicle financing arm of Kotak Mahindra Bank, has announced that Suraj Rajappan will take over as Managing Director & Chief Executive Officer effective June 1, 2026.
The appointment follows a three-decade career by current head Shahrukh Todiwala, who is set to superannuate on May 31, 2026.
Leadership Transition Details:
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The Successor: Rajappan is a Kotak veteran with 24 years of experience within the entity, having started his career at KMPL. His term is set for three years, pending member approval.
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The Legacy: Outgoing CEO Shahrukh Todiwala was credited by Kotak Mahindra Bank MD Ashok Vaswani for building a “strong legacy of prudent growth and risk discipline.”
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Strategic Focus: Rajappan noted that his leadership will prioritize innovation, disciplined growth, and strengthening partnerships with Original Equipment Manufacturers (OEMs) and dealers.
KMPL remains a dominant player in India’s car financing market, and this internal promotion signals a commitment to continuity in its operational strategy.
