Carborundum Universal, a part of the Murugappa Group, has appointed Sridharan Rangarajan as Managing Director of the company, effective August 3, 2023. Sridharan is currently the Director – Finance and Strategy of the firm.
Sridharan succeeds N Ananthaseshan who will be retiring and stepping down as a Director at the close of business hours on August 2, 2023.
Sridharan is a member of the Institute of Chartered Accountants of India, a graduate member of the Institute of Cost Accountants of India, and holds a bachelor’s degree in commerce from Madurai University. He joined CUMI in June 2011 as its Chief Financial Officer. In January 2018, he took over as the President and Group CFO of the Murugappa Group. In April 2021, he was appointed Director – Finance and Strategy of CUMI.
Sridharan also serves on the Boards of Cholamandalam Financial Holdings, Cholamandalam MS General Insurance Company, Cholamandalam MS Risk Services, E.I.D Parry (India), Parry Agro Industries, PLUSS Advanced Technologies Private, and Net Access India. He has earlier served on the Board of Timken India.
M M Murugappan, Chairman, CUMI, said, “On behalf of the Board, I would like to thank Ananthaseshan for his stellar services to the Company over 37 years. He leaves Carborundum well positioned for its next phase of growth in all respects. We wish Ananth well in his retirement. We are also delighted that Sridharan Rangarajan, who has been an integral part of the Company’s strategy and growth for over a decade, is taking over as MD. This will ensure a smooth transition as the Company gears up for further expansions in India and global operations.”
CUMI is one of the leading manufacturers of material solutions and services in abrasives, electro minerals, ceramics, refractories, and energy storage materials, serving customers in diverse industries including engineering, fabrication, auto and auto components, infrastructure, steel, glass, power generation and distribution, mining, and aerospace.