Manali Petrochemicals Ltd (MPL), a Chennai-based petrochemical manufacturing company and part of AM International, Singapore, made some strategic announcements at the leadership level aimed at driving the future growth of the company. 

The company recently inducted Devaki Ashwin Muthiah to the board as a Non-Executive director. Devaki is the daughter of MPL Chairman Ashwin Muthiah and the first of the fourth generation of the founder’s family.

Also read: Power agreement. Manali Petrochemicals to pick minor stake in First Energy

The company also announced that its whole-time director & CFO R Chandrasekar will be in-charge of the company’s day-to-day operations. In a recent regulatory filing, the company said, Muthukrishnan Ravi, MD, will be retiring from the position upon his superannuation on July 28. 

“He will be continuing his association as the CEO of the company’s overseas subsidiaries viz., AMCHEM, Singapore and Notedome, UK,” the company added. 

Also read: Manali Petrochemicals Q4 net profit slumps 98% to ₹1.33 crore

Ashwin Muthiah said the leadership team alignment is part of the future strategy of the company and that the induction of Devaki as a Non-Executive Director will bring fresh insights and strategic guidance to the board.

An MA in Business Management from the University of Edinburgh, Devaki till recently, served as a senior analyst at an independent investment management firm in London. She is currently serving on the board of AM International, Penn Globe Ltd and Notedome Ltd.

The company said Devaki will aim to drive strategic growth plans across Singapore, India and the UK to accelerate its future-readiness.

Related Topics