Arun Alagappan appointed president of TII

Arun Alagappan, a fourth generation heir to the Rs 22,500-crore Murugappa Group, has become the president of Tube Investment of India (TII), a Rs 3,400 crore Murugappa group company.

The move is seen as a gradual rise for him, who brought in premium, imported brands like Cannondale and Ducati into TII's fold.

He is currently senior vice president of TII and in-charge of sales and marketing at the company's cycle business.

After completing his business degree from Cardiff University in Wales, Alagappan worked with GE and Parryware before joining TII in 2007. It was reported that he was working on introducing the electric bike.
 

The bicycle division registered a 7 per cent decline in volumes during the first quarter of the current financial year when compared with corresponding quarter in the previous year. The segment witnessed a growth of 13 per cent in volumes over the fourth quarter of the previous financial year.

Arun Alagappan's father M A Alagappan has led 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.