Murugappa Group revamp: 20-yr-old corporate advisory board to be disbanded

The Rs 38,000-crore Murugappa group has decided to dismantle its two-decade-old non-statutory Murugappa Corporate Advisory Board. Instead of the board, which was, which was led by a family member and five outsiders, the group and individual companies will now be led by senior family members.   Until recently, M M Murugappan was the chairman of the advisory board. Three Murugappa group companies – Coromandel International, Cholamandalam Investment and Finance Company and Tube Investments of India – on November 11 announced that Murugappan was superannuating and that additiona.....

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