Coromandel International Limited announced that at the Board Meeting held April 25, 2024, the Board has approved/accepted the following: Retirement of Mr. A Vellayan from the position of Chairman and Non-Executive Director with effect from the close of April 25, 2024. The Board of Directors accepted the retirement of Mr. A Vellayan and in recognition of his contributions to the Company, over the past many years and for his continued guidance to the senior management in view of his tremendous experience and valuable contributions appointed him as Chairman Emeritus effective April 26, 2024. Consequent to the retirement of Mr. A Vellayan, the Board approved the appointment and redesignation of Mr. Arun Alagappan as Executive Chairman effective from April 26, 2024. Retirement of Mr. M M Venkatachalam from the position of Non-Executive Director with effect from the close of April 25, 2024. Mr. Arun Alagappan has done his Graduation in Commerce from the University of Madras and completed the `Owner President/Management Program' from Harvard Business School at Boston, USA. Mr. Alagappan started his career with GE Capital Services India in 1997. After a two year stint with GE, he joined the Murugappa Group in 1999 in Parryware, part of E.I.D Parry (India) Limited. Between 2005 to 2017, he served in Tube Investments of India Limited heading various divisions and functions before eventually becoming the President & Business Head of TI Cycles. In August 2017 Mr. Alagappan was appointed as Executive Director of Cholamandalam Investment and Finance Company Limited and subsequently as the Managing Director in November 2019. He held this position until February 14, 2021, prior to joining Coromandel International Limited. He holds directorship in various other companies such as Lakshmi Machine Works Limited and Thirumalai Chemicals Limited. Mr. Alagappan is acknowledged as a thought leader in the Bicycle Industry and the NBFC Industry. Mr. Arun Alagappan has been the Executive Vice Chairman of
the company since February 2021. Effective April 26, 2024 he is redesignated as Executive Chairman.