Majic Wheels Corp. has announced that its board of directors has accepted the resignation of David Chong as CEO, effective October 18, 2022. The board has appointed Sathyanandham Anguswami as CEO, effective October 18, 2022. Sathya is a technocrat and veteran fund manager, with over 30 years' experience in India, UAE, and US equity markets, as well as in Global Currency and Commodities F&O markets.

He has managed a $100 million proprietary fund, and is a FINRA Series 3 professional, and a DIFX Certified Trading Manager.