TVS Group company TVS Electronics today said that its Managing Director K E Ranganathan has resigned with immediate effect.
"Ranganathan, currently the Managing Director, has decided to pursue his interest elsewhere and has therefore resigned as the Managing Director and as a Member of the Board of Directors with effect from July 1, 2016", the company said in a BSE filing.
Prakash Katama, who was appointed as chief executive officer on May 4, 2016, would be responsible for the management of whole of affairs of the company as part of the transition, it said.
Shares of the company ended at Rs 101.90 apiece, down by 0.54 per cent on BSE.
