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"Dinesh, who will retire by rotation at the company's annual general meeting (AGM) to be held June 11, has expressed his intention not to seek re-appointment," the company said in a statement.
Pai has also decided to relinquish the position of member of the board and has requested the board to relieve him of the responsibilities after the AGM.
During his 16-year-long association with the company, Pai was its chief financial officer and director in-charge of the human resources department, including education and research.
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