Kotak Mahindra Prime Limited has named Suraj Rajappan as its Managing Director and Chief Executive Officer (CEO) for a 3-year term starting 1 June 2026.
The appointment has been cleared by the board and is subject to shareholder approval. The company is a subsidiary of Kotak Mahindra Bank.
Rajappan will take over from Shahrukh Todiwala, who will retire on 31 May 2026. Todiwala has spent over 3 decades with the Kotak Group.
During his tenure, the company maintained a steady approach to lending, with emphasis on risk controls and customer servicing.
Rajappan has been with Kotak Mahindra Prime for over 24 years and has worked across several functions within the organisation. He began his career with the company and has remained part of its leadership pipeline.
Kotak Mahindra Prime was set up in 1996 as a joint venture with Ford Credit International. It became a wholly owned subsidiary of Kotak Mahindra Bank in 2005.
Since then, it has expanded its presence in the vehicle financing segment, operating within the broader financial services network of the group.
The leadership change comes as the vehicle finance market continues to evolve, with shifts in demand and competition across lenders.
The company has indicated that its focus will remain on steady growth, product offerings and maintaining relationships with vehicle manufacturers and dealer networks.
Read More: Kotak Mahindra Bank Share Price Gains 2%; Completes Infina Stake Sale!
As of April 1, 2026, 11:37 am, Kotak Mahindra Bank Ltd share price was trading at ₹359.30, up 1.67% from the previous closing price.
The change in leadership follows a planned retirement and keeps management within the existing structure, with an internal executive stepping into the role.
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Published on: Apr 1, 2026, 12:42 PM IST
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