Money & Banking

Arun Alagappan resigns as MD of Cholamandalam

Our Bureau Chennai | Updated on January 18, 2021

Cholamandalam Investment & Finance Co has announced that Arun Alagappan (43) has resigned from the post of Managing Director and Director.

“He wishes to move ahead to assume larger responsibilities within the group, and the board has accordingly considered and accepted the same today,” the company said in a filing to stock exchanges.

Alagappan will be relieved from the services of the company effective February 14, 2021.

Earlier positions

After serving as an Executive Director of the company from August 19, 2017, he was elevated as the Managing Director of Murugappa Group’s NBFC in November 2019.

Then, the company had said the board had approved his appointment as the Managing Director for five years effective November 15, 2019.

Alagappan has about two decades of experience in the areas of strategy and planning, technology, finance, management and governance.

He had held senior management positions in group companies such as EID Parry India and Tube Investments of India before the Cholamandalam stint.

Published on January 18, 2021

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