Cargo Boat Development Company PLC announced that Mr. R. B. Thambiayah retires as the Managing Director of the company with effect from August 21, 2014. He will however continue as the Chairman of the company. Mrs. N. A. Thambiayah has been appointed as Deputy Chairman and Ms. N. R. Thambiayah has been appointed as Managing Director of the company, with effect from August 21, 2014.