Murugappa group family dispute: missing representation of women heirs on the Board

Top business groups need to set examples for others to follow. This case of Murugappa group is telling:

The family feud at the 40,000-crore Murugappa Group shows no signs of an early amicable settlement , with Valli Arunachalam still waiting for a “concrete offer”.

“They had sent out a communication to select media stating that the issue would be settled amicably soon,” Valli, the elder daughter of MV Murugappan, former Murugappa Group Executive Chairman, told BusinessLine on Thursday.

Demanding a seat on the board of Ambadi Investments Ltd (AIL), the holding company of the 119-year-old Murugappa group, Valli had crossed swords with other family members. Valli, her sister Vellachi Murugappan and their mother MV Valli Murugappan together hold an 8.15 per cent stake in AIL.

…….

“Every branch of the family is represented on the Ambadi board except our family. So, if we were to apply good governance, then every family branch must be equally represented. So, I want to see whether they actually action that and apply good governance. And as a first step, they should put me on the board….,” Valli said.

“Ï have been seeking a meeting with the family since August on this matter, which is not been happening,” she said, adding that she had sought not to be “discriminated against based on gender”.

For the past two years Valli has been seeking a seat on the AIL board, locking horns with the family patriarch, MV Subbiah, who apparently represents the entire family in the issue. Valli has also sent mails to all the male members of the family, including six directors of AIL and a few other junior members. She is demanding that female heirs in the family be given an equal opportunity in the family business.

One Response to “Murugappa group family dispute: missing representation of women heirs on the Board”

  1. Shane Shedon Says:

    The post you shared here is very informative. Thanks for sharing such a good post here.

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