Mr Vellayan is survived by his wife Mrs Lalitha Vellayan, his two sons – Mr Arun Vellayan and Mr Narayanan Vellayan – and grandchildren.
Mr Vellayan, served as Executive Chairman of Murugappa Group from November 2009 and retired in 2018, as customary in the Murugappa Group, at the age of 65.
During his tenure, Vellayan steered the Group’s growth through organic and inorganic initiatives, recording nearly 100% increase in revenue from Rs. 15,907 crore in 2008-09 to Rs 30,023 crore in 2016-17. During this period, the
Group’s EBITDA had gone up from Rs 1,500 crore to Rs 4,000 crore and in percentage from 10% to 14%.
Reflecting the improved performance, the Group’s market cap had gone up from Rs 11,600 crore to over Rs 70,000 crore at the end of January 2018.
A distinguished leader and a valued member of the Murugappa family, Mr Vellayan dedicated several decades to the Group, providing strategic direction across its diversified businesses, said an official statement from the Group.
His vision, integrity and long-term approach to value creation helped strengthen and expand the Group, contributing significantly to its reputation as one of the country’s most respected conglomerates, it said.
Mr Vellayan has served on the boards of various companies in the Murugappa Group, including as Chairman of Coromandel International Limited and EID Parry Ltd.
In addition, he has served on the boards of companies such as Kanoria Chemicals & Industries Ltd, EXIM Bank and Indian Overseas Bank.
Mr Vellayan has held leadership positions in various industry and trade organizations, including Southern India Chamber of Commerce, Fertiliser Association of India, Indian Sugar Mills Association and All India Cycle Manufacturers Association.
He was the Chairman of the Board of Governors of the Indian Institute of Management, Kozhikode (IIM-Kozhikode).
Mr Vellayan was an alumnus of The Doon School, Shriram College of Commerce, Aston University, UK, and University of Warwick Business School, UK. He has been honoured with Doctor of Science (Honoris Causa) by the Tamil Nadu Agricultural University and Aston University, UK.
“Admired for his sharp business insights, leadership clarity and unwavering commitment to the Group’s values, Mr Vellayan’s contributions have left a lasting imprint on the organization, inspiring generations of leaders within the Group and beyond,” the Murugappa Group said in a statement.
Vellayan, an instituional builder: Venu Srinivasan
Venu Srinivasan, Chairman Emeritus, TVS Motor Company, said,”I have known Vellayan for over six decades. He was extremely personable and helpful as a friend. As a business leader, he had a high level of business acumen and had a good grasp of men and matters, including international trade, economics and general management. He was a tall leader of my generation. He was a great institution builder. It is an irreparable loss for industry and the country and I would personally miss him greatly.”
