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The Phoenix Mills chairman retires after 55 years on board

The Phoenix Mills Ltd. Chairman and Managing Director Ashokkumar Ruia retired Aug. 8, ending a 55-year tenure on the board.

Ruia will vacate the roles before the end of his March 31, 2020, term, citing a need for younger leadership at the Indian developer.

He was replaced by Atul Ruia, also effective Aug. 8, following a board meeting.