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18 Jul 2018, Edition - 1100, Wednesday

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Tamilnadu News

Murugappan takes charge as Executive Chairman, Murugappa Group

Covai Post Network

Chennai:M. M. Murugappan, Vice-Chairman, Murugappa Group, has taken charge as the Executive Chairman of the Group today. He succeeds A. Vellayan who served as Executive Chairman from November 2009 and retires, as customary in the Murugappa Group, at the age of 65.

During his tenure, A. Vellayan steered the Group’s growth through organic and inorganic initiatives, recording nearly 100% increase in revenues from Rs. 15,907 crores in 2008-09 to Rs. 30,023 crores in 2016-17. During this period, the Group’s EBITDA had gone up from Rs. 1,500 crores to Rs. 4,000 crores and in percentage from 10% to 14%. Reflecting the improved performance, the Group’s market cap has gone up from Rs. 11,600 crores to over Rs. 70,000 crores at the end of January 2018. He has been actively involved in industry bodies such as FAI and ISMA.

Since November 2009, Murugappan served as the Group’s Vice-Chairman, spearheading technology, innovation and Environment, Health & Safety (EHS) initiatives across the Group. In January 2004, Murugappan took over as Chairman of CUMI, playing a pivotal role in transforming CUMI into an international company. He led the integration of Volzhsky Abrasive Works, Russia (the second largest manufacturer of silicon carbide in the world), with CUMI.

In April 2006, Murugappan was appointed Chairman of Tube Investments of India (TII). At TII, he is very involved, together with the team, in developing a strong engineering-focussed business to address opportunities in the transportation sector as a critical component supplier. He was appointed as Chairman of Coromandel International Ltd. at the recently concluded board meeting on 31st January 2018.

Murugappan is on the board of several companies outside the Murugappa Group such as Mahindra & Mahindra Ltd. (Mumbai) and Cyient Ltd. (Hyderabad). He served on the Board of Governors of IIT-Madras, for six years till November 2011 and has enabled many industry-academic partnerships. He now serves on the board of the IIT-Madras Research Park and provides guidance to many companies incubated there.

Murugappan holds a Bachelor’s degree in Chemical Engineering from the AC College of Technology, University of Madras and a Master of Science Degree in Chemical Engineering from the University of Michigan, USA. He is a member of the American and Indian Institutes of Chemical Engineers, the Indian Ceramic Society and the Plastics and Rubber Institute.

COIMBATORE WEATHER