Olam non-executive director Chanrai retires after 20 years

OLAM International non-executive director N G Chanrai has retired after 20 years on the board of the commodity trading group as part of a board renewal process, the company announced on Wednesday.

Mr Chanrai, whose family founded Olam in 1989 to trade cashews between India and Nigeria, is the current chief executive of the Kewalram Chanrai group, which holds a 4.81 per cent stake in Olam.

His departure is part of an ongoing board renewal plan that was started in 2012, Olam said.