In a major development, Arun Alagappan on Monday tendered his resignation as the Managing Director and as a director from the Cholamandalam Investment and Finance Company. He wishes to move ahead to assume larger responsibilities within the Group. The Board has considered it and accepted the same today. Alagappan will be relieved from the services of the Company effective at the end of the day, February 14, 2021.

The Board has placed on record its sincere appreciation for the remarkable contribution made by Alagappan during his tenure with the company and wishes him the very best in his future endeavours.

First Published:Jan 18, 2021 7:30 PM IST