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Muthoot Group Chairman MG George Muthoot passes away
New Delhi, March 5, 2021
MG George Muthoot, Chairman of Muthoot Finance, passed away in Delhi on Friday evening.
He was 71. He is survived by his wife Sarah George Muthoot, and sons George M.George, who is Executive Director of the group, and Alexander George, who is Group Director.
According to sources, Muthoot collapsed at his home in the national capital and was rushed to the Fortis Escorts Heart Institute, where he was declared brought dead around 7 pm.
Born on November 2, 1949 into one of the most prominent families in Kerala, Muthoot joined the family business at a young age and became its Managing Director in 1979 and its Chairman in 1993.
He was a graduate in Mechanical Engineering from Manipal Institute of Technology and had attended various Executive Management Courses at the prestigious Harvard Business School, among other institutions.
Under his watch, the Muthoot Group has broadened its scale and geographical boundaries to build a formidable business empire. He expanded the group's presence beyond South India by opening branches across North, East and India, transforming it into a pan-India organisation. The group went on to become a global business conglomerate with presence in the United States, the United Kingdom, the United Arab Emirates (UAE), Central America, Sri Lanka and Nepal.
The Muthoot Group is now a business conglomerate comprising 20 diversified business divisions. Its flagship company, Muthoot Finance Limited,is India's largest gold financing company amongst non-banking financial companies.
Muthoot was declared the 26th Richest Indian and the Richest Malayalee in India by Forbes Asia Magazine, 2020. He has served as a member of the National Executive Committee of FICCI and as the Chairman of FICCI's Kerala State Council.