Suraj Rajappan Takes the Helm as CEO of Kotak Mahindra Prime
Synopsis
In a significant leadership transition, Kotak Mahindra Prime Limited has appointed Suraj Rajappan as its new CEO, succeeding Shahrukh Todiwala, who retires after over 30 years. This move is expected to enhance KMPL's growth trajectory and customer engagement.
Key Takeaways
Suraj Rajappan appointed as CEO of Kotak Mahindra Prime Limited .
Effective leadership transition with Rajappan taking over from Shahrukh Todiwala .
Focus on disciplined growth and enhancing customer experience.
KMPL has a rich history since its inception in 1996.
Strategic partnership with DPIIT to support startups in India.
New Delhi, March 30 (NationPress) - The vehicle finance firm Kotak Mahindra Prime Limited (KMPL) has officially appointed Suraj Rajappan as the new Managing Director and Chief Executive Officer, effective from June 1, 2026, pending member approval. The current MD and CEO, Shahrukh Todiwala, is set to retire on May 31, 2026, after a remarkable tenure of over 30 years with the Kotak Group.
Suraj Rajappan, who initiated his career at KMPL, boasts 24 years of diverse experience within the company. KMPL operates as a subsidiary of Kotak Mahindra Bank Limited.
“We are excited to welcome Suraj in this pivotal role. His extensive industry background and execution skills will guide KMPL into its next growth chapter,” stated Ashok Vaswani, MD and CEO of Kotak Mahindra Bank.
Shahrukh Todiwala has established a strong legacy characterized by prudent growth, risk management, and a customer-centric approach, Vaswani added.
Rajappan expressed his commitment to maintaining KMPL's focus on disciplined growth, innovation, and delivering unparalleled customer experiences while enhancing collaborations with all OEMs and dealer partners.
Since its inception in 1996 as a joint venture with Ford Credit International, KMPL has adapted alongside India’s automotive and consumer finance sectors, firmly rooted in risk management, governance, and operational continuity, closely aligned with the broader financial ecosystem of the Kotak Group.
In 2005, Kotak Mahindra Bank acquired Ford Credit’s share, transforming KMPL into a wholly-owned subsidiary of the Kotak Group, which subsequently led to its rebranding as Kotak Mahindra Prime Limited.
Moreover, in 2025, the Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum of Understanding with Kotak Mahindra Bank to bolster the startup ecosystem in the country.
This strategic partnership is designed to provide startups with tailored banking solutions, access to credit and funding, digital and payment infrastructure, and capacity-building initiatives, according to an official statement.
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Point of View
The appointment of Suraj Rajappan as CEO of Kotak Mahindra Prime Limited marks a critical moment for the company. His longstanding experience within the firm, combined with a strategic vision, could usher in a new era of growth and customer focus, further strengthening its position in the market.
NationPress
14 Jul 2026
Frequently Asked Questions
Who is the new CEO of Kotak Mahindra Prime?
Suraj Rajappan has been appointed as the new CEO of Kotak Mahindra Prime Limited.
When will Suraj Rajappan officially take over as CEO?
He will officially assume the role on June 1, 2026, pending member approval.
What is the legacy of the outgoing CEO, Shahrukh Todiwala?
Shahrukh Todiwala leaves behind a legacy of prudent growth, risk management, and a strong focus on customer centricity.
What are KMPL's future plans under Suraj Rajappan?
KMPL plans to focus on disciplined growth, innovation, and enhancing customer experiences while strengthening partnerships with OEMs and dealers.
When was Kotak Mahindra Prime Limited established?
Kotak Mahindra Prime Limited was established in 1996 as a joint venture with Ford Credit International.
