Kotak Mahindra Prime has appointed Suraj Rajappan as its new Managing Director and Chief Executive Officer, marking a key leadership transition at the vehicle financing arm of Kotak Mahindra Bank. The appointment will be effective from June 1, 2026, for a three-year term, subject to shareholder approval.
Rajappan, a long-serving executive within the organization, brings over 24 years of experience at Kotak Mahindra Prime. Having started his career with the company, he has worked across multiple functions, building deep expertise in the vehicle financing business and contributing to the firm’s growth over the years.
He will succeed Shahrukh Todiwala, who is set to retire on May 31, 2026, after more than three decades with the Kotak Group. Todiwala’s tenure has been marked by a focus on prudent growth, risk discipline, and customer-centric operations, which helped strengthen the company’s position in India’s auto finance sector.
Kotak Mahindra Prime, a subsidiary of Kotak Mahindra Bank, plays a significant role in India’s vehicle financing market, offering lending solutions for both passenger and commercial vehicles. The leadership transition comes at a time when the sector is witnessing renewed momentum, supported by improving demand and increased adoption of digital lending platforms.
Rajappan’s appointment signals continuity in leadership while positioning the company for its next phase of growth. With his extensive internal experience and understanding of the business, he is expected to drive strategic expansion, enhance operational efficiency, and strengthen the company’s competitive position in an evolving financial services landscape.
