Kotak Mahindra Prime names insider Suraj Rajappan as CEO

New Delhi: Kotak Mahindra Prime on Monday announced that it has appointed Suraj Rajappan as managing director and chief executive for a three-year term starting June 1, marking a leadership transition at the vehicle financing arm of Kotak Mahindra Bank.

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Rajappan will succeed Shahrukh Todiwala, who is retiring at the end of May.


A company veteran with 24 years of experience across functions, Rajappan will take over at a time when Kotak Mahindra Prime is looking to build on its existing growth trajectory, said a company statement.

The appointment, approved by the board and subject to shareholder nod, signals a preference for internal talent for leadership.

“Shahrukh leaves a strong legacy of prudent growth, risk discipline and customer centricity at Kotak Mahindra Prime. We welcome Suraj to the helm—his deep industry experience and execution abilities position KMPL well for its next phase of growth,” said Ashok Vaswani, managing director, Kotak Mahindra Bank.

Rajappan indicated continuity in strategy, with a focus on “disciplined growth, innovation and best-in-class customer experience”, alongside strengthening partnerships with original equipment manufacturers and dealer networks.

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Founded in 1996 as a joint venture with Ford Credit International, Kotak Mahindra Prime became a wholly owned subsidiary of Kotak Mahindra Bank in 2005 and has grown into a major player in the vehicle financing segment.