Vanavarayar is presently co-chairman and was elevated as Chairman, as Padma Bhushan, Dr N Mahalingam, who was holding the post, died recently, M Balasubramaniam, secretary of the Foundation said.
The Foundation runs the Kumaraguru College of Technology (KCT), a premier Engineering Institute, with a student strength of 6,000.
Vanavarayar is the president of NGM College in Pollachi and also Chairman of Coimbatore chapter of Bharatiya Vidya Bhavan.
He will hold the office of Chairman and Managing Trustee for life, Balasubramaniam said.