Vellayan Subbiah, Chairman of Cholamandalam Investment, Clinches Prestigious EY World Entrepreneur of the Year 2024 Award

Vellayan Subbiah, Chairman of Cholamandalam Investment, Triumphs as EY World Entrepreneur of the Year!

In a proud moment for India, Vellayan Subbiah, Executive Vice-Chairman of Tube Investments of India and Chairman of Cholamandalam Investment & Finance Co, has been honored with the EY World Entrepreneur of The Year 2024 title. Subbiah was chosen from an impressive pool of nearly 5,000 business leaders worldwide and received the accolade at a grand event held in Monaco.

This win marks India’s third triumph in a decade, underscoring the nation’s exceptional entrepreneurial spirit. India now stands as the only country across EY regions to achieve this remarkable feat thrice, showcasing the consistent excellence of its business leaders on the global stage.

Vellayan Subbiah Wins Prestigious EY World Entrepreneur of The Year 2024

A Legacy of Leadership and Resilience

Vellayan Subbiah’s journey in his family business began over fifteen years ago, during which he has demonstrated extraordinary leadership and resilience. As Chairman of Cholamandalam, he successfully navigated the company through challenging times, including a turbulent partnership and the global economic downturn. Under his stewardship, Cholamandalam’s market capitalization soared, multiplying 60 times, a testament to his strategic vision and execution.

In 2018, Subbiah took the helm of Tube Investments of India (TII), a venerable 70-year-old manufacturing company. He embarked on a transformative journey, steering the company through strategic investments and acquisitions. His efforts have revitalized TII, positioning it as a dynamic and forward-thinking entity in the manufacturing sector.

Recognition and Impact

Carmine Di Sibio, EY Global Chairman and CEO, praised Subbiah’s remarkable achievements. “The impressive growth of the businesses he’s led has been remarkable, but his story goes far beyond numbers. His humble and personable approach to leadership and his philosophy of enabling others to ‘enter a better life’ is the embodiment of what it means to be EY World Entrepreneur of The Year,” said Di Sibio.

Vellayan Subbiah attributes his success to the deep-seated entrepreneurial spirit within his family’s business legacy. “As part of a fourth-generation family business, the spirit of entrepreneurship runs deep within me. I firmly believe that by approaching challenges as opportunities and committing ourselves to a path of self-improvement, there is no limit to what we can achieve,” he remarked.

A Distinguished Lineage

Subbiah’s recognition places him among an elite group of Indian entrepreneurs who have previously won this prestigious award. He joins the ranks of Dr. Kiran Mazumdar-Shaw (2020), Uday Kotak (2014), and Narayana Murthy (2003), each of whom has left an indelible mark on the global business landscape.

Selection Criteria and Panel

Four main criteria—enterprise spirit, purpose, development, and impact—were used by an impartial jury to choose the EY World Entrepreneur of the Year 2024. This year’s panel included esteemed entrepreneurs from around the globe, led for the second consecutive year by Hernan Kazah, Co-founder and Managing Partner of Kaszek Ventures.

Subbiah’s Philosophy and Vision

Vellayan Subbiah’s leadership style is characterized by a unique blend of humility and visionary thinking. His philosophy revolves around the idea of enabling others to improve their lives, which he considers the cornerstone of true leadership. This approach has not only driven the businesses he leads to remarkable growth but has also fostered a culture of empowerment and innovation.

A Future of Continued Excellence

Looking ahead, Vellayan Subbiah is poised to continue his journey of excellence, driving growth and innovation across his business ventures. His recognition as the EY World Entrepreneur of the Year 2024 serves as an inspiration to aspiring entrepreneurs and business leaders, demonstrating the power of resilience, strategic vision, and a commitment to making a positive impact.

Conclusion

Vellayan Subbiah’s achievement in winning the EY World Entrepreneur of the Year 2024 title is a significant milestone not only for him but also for India. His leadership and vision have transformed the companies he leads, setting new benchmarks for success and resilience in the business world. As he joins the esteemed list of past winners, Subbiah’s story serves as a powerful reminder of the potential within each entrepreneur to create lasting change and inspire future generations.