Kotak Mahindra Prime Names Suraj Rajappan as MD & CEO

Kotak Mahindra Prime Limited (KMPL) has announced a leadership transition, with Suraj Rajappan set to take over as Managing Director & Chief Executive Officer from June 1, 2026, subject to shareholder approval.

He will succeed Shahrukh Todiwala, who will retire on May 31, 2026, concluding a distinguished career spanning more than three decades within the Kotak Group.

Rajappan’s appointment marks a continuity-driven leadership move, given his long-standing association with KMPL. Having started his career with the company, he brings over 24 years of experience across multiple functions, offering deep institutional knowledge and operational insight.

The transition reflects Kotak’s focus on internal leadership development and succession planning, ensuring stability while preparing the organisation for its next phase of growth. Rajappan is expected to build on KMPL’s existing strengths in disciplined lending, customer-centricity, and strong OEM and dealer partnerships.

Under Todiwala’s leadership, KMPL strengthened its position in the vehicle financing segment, with a consistent focus on risk management and sustainable growth. His tenure is widely associated with building a robust and resilient business foundation.

As the company moves forward, the leadership shift comes at a time when the NBFC sector is evolving rapidly, driven by digital adoption, changing customer expectations, and increasing competition. Rajappan’s mandate will likely include driving innovation, enhancing customer experience, and scaling growth while maintaining financial discipline.

Backed by the larger ecosystem of Kotak Mahindra Bank, KMPL is well positioned to expand its footprint further in the mobility financing space.

The transition signals both continuity and forward momentum, as the company aligns its leadership with long-term strategic priorities in a dynamic financial services landscape.