Kotak Mahindra Prime Limited (KMPL), the vehicle finance arm of Kotak Mahindra Bank, has announced a key leadership transition. Suraj Rajappan has been appointed Managing Director and Chief Executive Officer for a three-year term, effective 1 June 2026, pending members’ approval.
Rajappan, who began his career with KMPL, brings 24 years of diverse experience across the organisation. He will succeed Shahrukh Todiwala, who retires on 31 May 2026 after more than three decades with the Kotak Group.
Ashok Vaswani, MD & CEO, Kotak Mahindra Bank, said, “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.”
Shahrukh Todiwala, MD & CEO, KMPL, said, “Being a part of KMPL’s 30-year journey and contributing to its growth has been truly fulfilling, and leading the company has been an honour. I am confident that Suraj and the leadership team will build on this strong foundation and take KMPL to new heights.”
Suraj Rajappan, MD & CEO‑Designate, KMPL said, “I am honoured by the trust the Board has placed in me. KMPL will continue to focus on disciplined growth, innovation and best‑in‑class customer experience and further strengthen our partnership with all OEMs and dealer partners.”
