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Our Bureau

Chennai, Sept 15

Mr M.A. Alagappan, Vice-Chairman of the Murugappa Corporate Board and a member of the promoter family, is set to take over as the Chairman of the group, says a press release. The incumbent (professional) Chairman, Mr P.S. Pai's term of Chairmanship was three years and there was an extension given by the Board for a year, which is due to expire on October 20. "Mr Pai is proceeding on leave from September 18, preparatory to retirement," the release says.

There is going to be a meeting of senior executives on September 22 and 23 and Mr Pai felt that the event should be overseen and orchestrated by the new Chairman.

"He is therefore handing over operational charge to Mr M.A. Alagappan," whom the Murugappa Corporate Board (a group-level managing body) will take over as the next Chairman.

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