The re-appointment is based on recommendations of the Nomination and Remuneration Committee, subject to the approval of the members of the company through postal ballot.
The company said that Ramadurai’s present tenure will conclude on 12 February 2024.
Ramadurai holds a Post Graduate Diploma in Management (PGDM) with specialisation in Marketing from the Indian Institute of Management, Calcutta and a Bachelor of Technology in Chemical Engineering from the Indian Institute of Technology, Kanpur.
He was initially appointed as a nonexecutive non-independent director of the company with effect from 27 March 2015. He was appointed as the managing director of the company from 1 June 2019 to 12 February 2022 and he was re-appointed by members as managing director of the company for a further period of two years from 13 February 2022 to 12 February 2024.
He is also a member of Confederation of Indian Industry (CII), Southern Region and a member of the India Advisory Committee of the US India Business Council (2022-24).
3M India is a diversified company engaged in manufacturing of, and trading in, a wide variety of products catering to the industrial, transportation, automotive, construction, engineering, healthcare, traffic and safety, household, and office segments. Its operations are broadly classified under five business segments: safety & industrial, transportation & electronics, health care, consumer and others.
The company's consolidated net profit jumped 37.5% to Rs 146.11 crore on 6.4% rise in net sales to Rs 1,039.52 crore in Q2 FY24 over Q2 FY23.
Shares of 3M India were higher 0.91% to Rs 31,766 on the BSE.