The Amara Raja group experienced an important development at its board meeting on Monday, when the founding chairman Ramachandra N. Galla, who headed the company for 36 years and was largely responsible for the management position, expressed his decision not to seek reappointment.
The Senior Galla will remain director and chairman until the end of the AGM in August, after which his son and deputy chairman Jayadev Galla will take his place. The board also accepted the resignation of Ramadevi Gourineni, a medical doctor, as non-executive director amid the pandemic that required her attention. The board appointed Harshavardhana Gourineni and Vikramadithya Gourineni as executive directors. The founding family had already implemented a robust and transparent succession planning process in 2013, when both Mr. Harshavardhana and Mr. Vikramadithya were identified as Gen Next executives.
Given the strategic importance of the new energy business, S. Vijayanand will take over as President – New Energy based on his proven track record in the company. Annush Ramasamy, who previously served as President and Managing Director of Sri Kumara Guru Mills, has been inducted as Independent Director.