Murugappas shuffle directors
Chennai: Murugappa group has shuffled the directorship of family members on the statutory boards of group companies as well as the functional roles of some of them as mentor directors.

The group will follow a rotation policy for the executive members of the Murugappa corporate board in their respective assignment to group company boards. This is with a view to provide wider experience and a broader perspective to prepare them for greater responsibilities in future.

Accordingly, M V Subbiah has become chairman of Parry Agro Industries in place of M A Alagappan.

M M Murugappan has also joined the companys board besides the board of Parry Confectionery in the place of M M Venkatachalam.

Murugappan will also steer the groups HR functions, held earlier by Venkatachalam.

Subbiah has stepped down from the board of Tube Investments of India (TII) and also as its chairman. Instead, Alagappan, executive vice chairman, TII has become its executive chairman.

He has also been made chairman of Cholamandalam Investment and Finance Co (Cifco).
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