Tube Investments of India (TII) Executive Vice-Chairman Vellayan Subbiah Crowned EY World Entrepreneur Of The Year™ 2024

(IN BRIEF) Tube Investments of India (TII) and Cholamandalam Investment and Finance Co. Ltd.’s Executive Vice-Chairman, Vellayan Subbiah, clinched the prestigious title of EY World Entrepreneur Of The Year™ 2024 at a gala held in Monaco’s Salle des Etoiles. Selected from a pool of nearly 5,000 contenders spanning 47 countries, Subbiah is the fourth Indian to receive this honor in the award’s 24-year history. A transformative leader, Subbiah’s journey from engineer to strategic consultant to entrepreneurship has been marked by remarkable achievements, notably steering Chola through turbulent times and catapulting TII’s growth through strategic investments and acquisitions. Recognized for his commitment to sustainability and community welfare, Subbiah’s win underscores his dedication to fostering a better world through business. EY Global Chairman and CEO, Carmine Di Sibio, lauded Subbiah’s leadership ethos and philanthropic endeavors, while Subbiah expressed gratitude for the recognition and pledged to continue his legacy of elevating others through entrepreneurship. The EY World Entrepreneur of the Year event serves as a platform to honor visionary leaders transforming industries and addressing global challenges, with Subbiah’s win underscoring his entrepreneurial spirit, purpose-driven approach, and significant impact on growth.

(PRESS RELEASE) LONDON, 7-Jun-2024 — /EuropaWire/ — In a prestigious ceremony held at Monaco’s Salle des Etoiles, Vellayan Subbiah, the Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd., was acclaimed as the EY World Entrepreneur Of The Year™ 2024. Vellayan’s triumph marks the fourth time an entrepreneur from India has clinched this esteemed global title in the award’s 24-year history.

Among nearly 5,000 contenders, including 51 winners from 47 countries and jurisdictions, Vellayan stood out for his transformative leadership and unwavering commitment to drive change within his country, his companies, and his people. His journey, evolving from an engineer to a strategic consultant and later assuming pivotal roles within his family’s business, showcases his entrepreneurial prowess and vision.

Under Vellayan’s stewardship, Chola Investment and Finance Co. Ltd. weathered the storm of a troubled partnership amidst a global recession, with Vellayan eventually ascending to the role of Chairman and exponentially increasing the company’s market capitalization by 60 times during his tenure.

In 2018, Vellayan undertook the helm of TII, a venerable manufacturing entity with a history spanning seven decades. Through strategic investment reallocation and astute acquisitions, he orchestrated a remarkable turnaround, propelling TII’s share price to grow by 13 times. Notably, TII’s subsidiary, CG Power, recently embarked on constructing India’s inaugural outsourced semiconductor and test facility.

Beyond his notable business accomplishments, Vellayan has been a staunch advocate for sustainability and community welfare. His initiatives have propelled his companies to achieve significant environmental and social milestones, setting new benchmarks for corporate responsibility.

Commenting on Vellayan’s achievement, Carmine Di Sibio, EY Global Chairman and CEO, remarked, “Vellayan embodies the quintessence of entrepreneurship. His remarkable business growth is matched only by his humility and dedication to enabling others to lead better lives. His commitment to social causes, coupled with his exemplary track record, truly sets him apart. Congratulations to Vellayan, a truly deserving recipient of this prestigious accolade.”

Expressing his gratitude, Vellayan Subbiah stated, “It is a profound honor to be bestowed with the title of EY World Entrepreneur Of The Year. As a scion of a fourth-generation family business, the spirit of entrepreneurship courses through my veins. I am deeply inspired by those who preceded me and those who will follow. I firmly believe that with a steadfast commitment to self-improvement and a willingness to embrace challenges, there are no limits to what we can achieve. I extend my heartfelt thanks to my remarkable colleagues whose unwavering support made this journey possible. I am determined to carry forward the legacy of past winners by uplifting others along my entrepreneurial odyssey.”

The EY World Entrepreneur of the Year event, an annual celebration of visionary leaders driving industry transformation and addressing global challenges, brings together founders, CEOs, and business luminaries for a series of networking events and workshops culminating in the crowning of the global winner.

A distinguished panel of judges, chaired for the second consecutive year by Hernan Kazah, Co-founder and Managing Partner of Kaszek Ventures, selected the EY World Entrepreneur of the Year 2024 based on four criteria: entrepreneurial spirit, purpose, growth, and impact.

High-resolution video content of the ceremony is available for download for both broadcast and online use.

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SOURCE: Ernst & Young

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