New Delhi: Realty major DLF Ltd on Thursday said its managing director (MD) T.C. Goyal will retire from the company on 31 March.

In a filing to BSE, DLF said that the board met on Thursday to place on record its appreciation on retirement of Goyal from the services. “He (Goyal) shall cease to be the managing director of the company with effect from close of business hours on 31 March, 2015 upon completion of his term, as was approved by shareholders at the extra-ordinary general meeting held on 4 April, 2013," the filing added.

Goyal will also resign as director of the company with effect from close of business hours on 31 March 2015, which has been noted and accepted by the board of directors.

After Goyal’s retirement, Mohit Gujral and Rajeev Talwar, Whole Time Directors, would be jointly and severally responsible for signing of all statutory and regulatory filings.

Goyal has agreed to continue his association with the company as “chief mentor" to help, advise and guide the leadership team. “Goyal has been an integral part of the DLF family and at the forefront of the leadership team in DLF. He joined the company in 1981 and was elevated to the position of managing director in 1998," the company said.

Goyal successfully steered the company in various phases of its growth and expansion, it added. DLF has a land bank of about 295 million square feet, of which 50 million sq ft are under development.

Close