Manappuram Finance Limited has identified Sumitha Jayasankar, daughter of managing director and chief executive officer V.P. Nandakumar, as a potential successor. As a first step towards succession planning, Jayasankar has been inducted as an executive director on the board. Nandakumar, who turns 70 next year, he is considering promoting internal candidates as the next CEO.

A gynaecologist by profession, Jayasankar is being groomed to take over the reins from Kumar. Putting in place a succession plan before the end of March was crucial as Kumar's bonus for the fiscal was resting on the condition that he prepares this plan.