Diversified conglomerate Murugappa Group today said it has appointed M M Murugappan as the executive chairman.
Murugappan, who was the vice-chairman, succeeds A Vellayan, who served as executive chairman from November 2009, the company said in a statement.
Murugappan is on the board of several companies outside the Murugappa Group including Mahindra & Mahindra and Cyient Ltd as also on the board of Governors of IIT-Madras, for six years till November.
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Since November 2009, Murugappan served as the Group's vice-chairman, spearheading technology, innovation and Environment, Health and Safety (EHS) initiatives, the statement said.
In April 2006, Murugappan was appointed chairman of Tube Investments of India (TII).
On the other hand, A Vellayan steered the Group's growth through organic and inorganic initiatives, recording nearly 100 per cent increase in revenue from Rs 15,907 crore in 2008 -09 to Rs 30,023 crore in 2016-17.
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