Chennai, August 8, 2009: M A Alagappan, the Executive Chairman of the Murugappa Group announced today that he would be relinquishing his office by the end of October, 2009. He will be handing over the Chairmanship to A Vellayan, currently the Vice Chairman and Director-Strategy of the Murugappa Corporate Board (MCB).
M M Murugappan, currently Director on the Board will succeed A. Vellayan as the Vice Chairman. N. Srinivasan, Director-Finance and Sridhar Ganesh, Director-Human Resources will continue to head their respective functions in the Corporate Board. Deepak Satwalekar, Venkatraman Thyagarajan and Sridar Iyengar continue as independent directors of the Board.
M A Alagappan has lead many of the major businesses of the Murugappa Group. He was the driving force behind the Group’s entry and growth in the financial services businesses. Alagappan has been involved with several industry bodies such as FICCI and SICCI and is also the Honorary Consul of Hungary.
A Vellayan, who has pioneered many innovative business solutions for the Murugappa Group, brings with him vast experience in managing diverse businesses. He holds a Diploma in Industrial Administration from the University of Aston, UK and a Master’s Degree in Business Studies from the Warwick Business School, U.K. He is the Chairman of EID Parry (India) Ltd., and Coromandel Fertilisers Ltd (CFL).
M M Murugappan has significant experience in spearheading the Engineering and Technology based businesses of the Group. He has lead these businesses to newer geographies and to newer heights of success. He also brings with him rich experience in leading the IT function across the Group. He holds a Master of Science Degree in Chemical Engineering from the University of Michigan, USA and is a member of the American and Indian Institutes of Chemical Engineers, the Indian Ceramic Society and the Plastics and Rubber Institute. He is the Chairman of Tube Investments of India Ltd., Carborandum Universal Ltd., Wendt India Ltd. and Murugappa Morgan Thermal Ceramics Ltd.
About the Murugappa Group
Headquartered in Chennai, the Rs. 15,646 crores (USD 3 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Cargill, Foskor and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.
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