- Leadership
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Deepak Parekh steps down as HDFC Life Insurance's chairman, Keki Mistry to take leadership role in board
Mistry has been associated with the company since December 2000 and is currently acting as Non-Executive Director. He is a qualified Chartered Accountant and a fellow member of the Institute of Chartered Accountants of India. Mistry was the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited. Read more:
HDFC Life Insurance's chairman Deepak S Parekh stepped down from his role, the company said in an exchange filing on Thursday.
Following Parekh's resignation, the company has appointed Keki M Mistry as the new chairman of the board.
"The Board has unanimously approved the appointment of Mr Keki M Mistry as the Chairman of the Board with immediate effect subject to approval of Insurance Regulatory and Development Authority," the statement from the company read.
Mistry has been associated with the company since December 2000 and is currently acting as Non-Executive Director.
He is a qualified Chartered Accountant and a fellow member of the Institute of Chartered Accountants of India. Mistry was the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited.
"With the amalgamation of HDFC Limited with HDFC Bank, Mr Mistry superannuated from HDFC Limited and has been appointed as a Non-Executive Director on the Board of HDFC Bank Limited. He is also a Director on the Boards of several other prominent companies," the exchange filing stated.
Other developments
The company said that VK Viswanathan and Prasad Chandran shall cease to be Independent Directors of the company, upon completion of their two consecutive terms of five years each on April 24, 2024.
The Board placed on record its deep appreciation for the immense contributions made by Viswanathan and Chandran during their association with the company.
On another note, Venkatraman Srinivasan was appointed as an Independent Director based on the recommendation of the nomination & remuneration committee for a term of five consecutive years.
Following Parekh's resignation, the company has appointed Keki M Mistry as the new chairman of the board.
"The Board has unanimously approved the appointment of Mr Keki M Mistry as the Chairman of the Board with immediate effect subject to approval of Insurance Regulatory and Development Authority," the statement from the company read.
Mistry has been associated with the company since December 2000 and is currently acting as Non-Executive Director.
He is a qualified Chartered Accountant and a fellow member of the Institute of Chartered Accountants of India. Mistry was the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited.
"With the amalgamation of HDFC Limited with HDFC Bank, Mr Mistry superannuated from HDFC Limited and has been appointed as a Non-Executive Director on the Board of HDFC Bank Limited. He is also a Director on the Boards of several other prominent companies," the exchange filing stated.
Other developments
The company said that VK Viswanathan and Prasad Chandran shall cease to be Independent Directors of the company, upon completion of their two consecutive terms of five years each on April 24, 2024.
The Board placed on record its deep appreciation for the immense contributions made by Viswanathan and Chandran during their association with the company.
On another note, Venkatraman Srinivasan was appointed as an Independent Director based on the recommendation of the nomination & remuneration committee for a term of five consecutive years.
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