Mumbai: Deepak Parekh, the chairman of HDFC Life Insurance, has resigned from his position, as announced in an exchange filing on Thursday. Keki Mistry has been appointed as the new chairman of the board.
The company’s statement read, “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.”
Mistry joined HDFC Life Insurance in December 2000 and is currently a Non-Executive Director. Previously, he was the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited. After HDFC Limited merged with HDFC Bank, Mistry became a Non-Executive Director at HDFC Bank. He serves on the boards of several other prominent companies.
The company also announced the completion of the tenures of Independent Directors VK Viswanathan and Prasad Chandran, who served for two consecutive terms of five years each. Additionally, Venkatraman Srinivasan has been appointed as an Independent Director for a five-year term based on the recommendation of the nomination & remuneration committee.
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