Vellayan Subbiah, Executive Vice Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance, has won the prestigious EY Entrepreneur of the Year Award 2024. He emerged as the winner from a competitive field of nearly 5,000 participants, including 51 winners from 47 countries and jurisdictions. The award ceremony took place at Monaco’s Salle des Etoiles.
Subbiah’s victory marks the fourth time in 24 years that India has won this world entrepreneurship award among EY regions. Carmine Di Sibio, EY Global Chairman and CEO, praised Subbiah’s accomplishments, highlighting his impressive growth trajectory and transformative leadership that have driven his companies through strategic investments and acquisitions. Rajiv Memani, Chairman and CEO of EY India, lauded Subbiah’s visionary leadership and customer-centric approach as key factors behind his success.
With a career spanning over two decades, Subbiah began as an engineer and strategic consultant before transitioning to entrepreneurship nearly 15 years ago in his family’s business. He serves on the board of various companies, including SRF Limited. Subbiah first successfully navigated Chola, a non-banking financial company (NBFC), through the challenges of a troubled partnership during a global recession, eventually becoming its Chairman and increasing its market capitalization 60 times during his tenure.
In 2018, Subbiah took on the leadership of TII, a 70-year-old manufacturing firm, and initiated a transformation through investment reallocation and acquisitions, resulting in TII’s share price growing 13 times. Under his leadership, TII’s subsidiary, CG Power, has commenced building India’s first outsourced semiconductor and test facility.
Subbiah holds a degree from IIT Madras and an MBA from the University of Michigan. He has previously worked with McKinsey & Company, 24/7 Customer Inc, and Sundram Fasteners.
The ‘EY World Entrepreneur of the Year’ award celebrates leaders who drive industry transformation, foster economic growth, and address global challenges. Subbiah’s win exemplifies India’s entrepreneurial prowess and commitment to sustainable growth and development.
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