New Delhi: Fertiliser firm Coromandel International Ltd on Thursday announced the retirement of A Vellayan from the position of Chairman and Non-Executive Director and appointment of Arun Alagappan as Executive Chairman.
He will be retiring with effect from the close of April 25, 2024.
The company's board accepted the retirement of A Vellayan and appointed him as Chairman Emeritus effective April 26, 2024.
"Consequent to the retirement of A Vellayan, the board approved the appointment and redesignation of Arun Alagappan as Executive Chairman effective from April 26, 2024," the company said in a regulatory filing.
Arun Alagappan has been the Executive Vice Chairman of the company since February 2021.
Coromandel International is one of the leading agri solutions providers. It operates in two major segments, Nutrient and other allied businesses and Crop Protection. These include fertiliser, crop protection, bio products, specialty nutrients and organic businesses. The company is the second largest manufacturer and marketer of phosphatic fertiliser in India.
The company clocked a turnover of Rs 29,799 crore during FY22-23. Coromandel is a part of the Rs 74,220 crore Murugappa Group.
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