The Phoenix Mills Limited announced at the board meeting held on August 8, 2018 has recorded the retirement of Mr. Ashokkumar Ruia as Chairman and Managing Director and consequently from the directorship of the company with effect from conclusion of the board meeting on August 8, 2018. Mr. Ashokkumar Ruia has been on the Board of The Phoenix Mills since 1963. The board, on the recommendation of the Nomination and Remuneration Committee, has elevated and re-designated Mr. Atul Ruia as Chairman and Managing Director of the company with effect from August 8, 2018, subject To Approve the shareholders of the company at the upcoming AGM.