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Murugappa Group revamp: 20-yr-old corporate advisory board to be disbanded

Instead of the board, which was managed by a family member and five outsiders, the group and individual companies will now be led by senior family members

M M Murugappan
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M M Murugappan was the Chairman of the Advisory Board until recently

T E Narasimhan Chennai
The Rs 38,000-crore Murugappa group has decided to dismantle its two-decade-old non-statutory Murugappa Corporate Advisory Board. Instead of the board, which was, which was led by a family member and five outsiders, the group and individual companies will now be led by senior family members.
 
Until recently, M M Murugappan was the chairman of the advisory board. Three Murugappa group companies – Coromandel International, Cholamandalam Investment and Finance Company and Tube Investments of India – on November 11 announced that Murugappan was superannuating and that additional directors were being appointed to their respective boards.
 
Sources said that Murugappan

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First Published: Nov 24 2020 | 5:07 PM IST

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