Kotak Mahindra Prime elevates Suraj Rajappan to lead as MD & CEO

Kotak Mahindra Prime Limited (KMPL), the vehicle financing arm of Kotak Mahindra Bank, has announced a leadership transition, appointing Suraj Rajappan as its new Managing Director and Chief Executive Officer.

Rajappan, who has spent 24 years with the company, will assume the role for a three-year term beginning June 1, 2026. A long-serving insider, he has held multiple roles within KMPL and is widely regarded as a key contributor to its growth over the years.

He will succeed current MD & CEO Shahrukh Todiwala, who is set to retire on May 31, 2026, after more than three decades with the Kotak Group.

Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, acknowledged Todiwala’s contribution, highlighting his focus on disciplined growth, risk management, and customer-first thinking. He also expressed confidence in Rajappan’s ability to steer the company forward, citing his deep industry understanding and execution track record.

Reflecting on his tenure, Todiwala described his journey with KMPL as fulfilling and expressed confidence in the incoming leadership to build on the company’s strong foundation.

The appointment reflects Kotak’s continued emphasis on nurturing internal talent to lead its specialised businesses into the next phase of growth.