Arun Duggal to step down from board of Shriram Capital

CHENNAI: After serving the organisation for almost a decade, Arun Duggal, Chairman, Shriram Capital Ltd, the financial service entity of Shriram Group, has decided to step down.

Duggal was serving as Chairman -- Shriram Capital Ltd., Shriram Transport Finance Ltd and Shriram City Union Finance, the financial entities of city-based diversified firm Shriram Group.

However, Duggal would continue to be Trustee of the Shriram Ownership Trust and be on the Board of Sanlam Insurance, South Africa, the company said in a statement.

"I am very proud to have been associated with Shriram Group companies for the past 10 years. Shriram Group is also very fortunate to have long term investors like Sanlam Insurance, South Africa and Ajay Piramal Enterprises", Duggal said.

Prior to joining Shriram Group, Duggal had worked with Bank of America, US, Hong Kong and Japan.

"We are grateful to Duggal for his leadership, integrity and resilience in guiding the Shriram Group towards a strong and sustainable growth", Shriram Group Founder, R Thyagarajan said.

An alumni of IIT Delhi and IIM Ahmedabad, Duggal also served the American Chamber of Commerce as the Chairman, the release said.