Tata Chemicals’ board has re-appointed R Mukundan as MD & CEO for a further term of five years, with effect from November 26, subject to shareholders’ approvals.
The company’s board, which met today, approved the re-appointment of Mukundan based on the company’s Nomination and Remuneration Committee’s recommendation. The company will seek shareholders’ approval at its forthcoming annual general meeting, Tata Chemicals said in a stock exchange update.
Mukundan present tenure as MD & CEO will end on November 25, 2023.
He had joined Tata Administrative Service in 1990, after completion of MBA from FMS, Delhi University. During his more than three-decade with the Tata Group, he has held various responsibilities across the chemical, automotive and hospitality sectors of the Tata Group.
He is a distinguished alumnus of IIT, Roorkee, Fellow of Indian Chemical Society and an alumnus of Harvard Business School, it said.
For the quarter ended March 2023, Tata Chemicals posted a 53.56% rise in consolidated net profit at Rs 711 crore, compared with a net profit of Rs 463 crore recorded during the same period a year ago. During the period under review, the company’s revenue from operations rose 26.60% to Rs 4,407 crore, compared with Rs 3,481 crore posted a year ago.