Cholamandalam Investment and Finance Company Limited announced that Mr. N. Srinivasan who was reappointed as a director retiring by rotation at the AGM had expressed his desire to step-down as a Director and as Managing Director of the Company at the Board meeting held on July 26, 2018. The Board considered his request and accepted his resignation effective end of business hours on August 18, 2018. Further the term of office of Mr. M.B.N. Rao, Chairman expired at the conclusion of the 40th AGM.

Consequent to his retirement, Mr. M.M. Murugappan assumed office as the Chairman of the Board.