Amara Raja group of companies witnessed a major development at its board meeting held on Monday, when the founder Chairman Ramachandra N. Galla, who steered the company for 36 years and was largely responsible for its leadership position, expressed his decision not to seek a reappointment.
The senior Galla will continue as Director and Chairman till the conclusion of the Annual General Meeting (AGM) in August, after which his son and the Vice-Chairman Jayadev Galla will step into his shoes. The board also accepted the resignation of Ramadevi Gourineni, a physician by profession, as Non-Executive Director in view of the pandemic that required her attention. The board inducted Harshavardhana Gourineni and Vikramadithya Gourineni as Executive Directors. The promoter family had adopted a robust and transparent process of succession planning way back in 2013 when both Mr. Harshavardhana and Mr. Vikramadithya were identified as gen-next leaders.
Given the strategic importance of the new energy business, S. Vijayanand will take charge as President - New Energy, given his proven track record in the company. Annush Ramasamy, who was earlier with Sri Kumara Guru Mills as President and Managing Director, has been inducted as an Independent Director.
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