Cholamandalam Investment and Finance Company Limited announced that at the board meeting held on May 31, 2018, the board approved appointment of Mr. M M Murugappan as an additional director of the Company with immediate effect. The Board further recommended his appointment as a director liable to retire by rotation for approval of the shareholders at the Annual General Meeting (AGM) scheduled to be held on 26 July 2018. Further, subject to his appointment by shareholders, Mr. Murugappan has been elected as the Chairman of the Board, effective 27 July 2018 in the place of Mr. M B N Rao, current Chairman who retires at the close of the AGM scheduled on 26 July 2018.