HDFC Life Insurance Co.'s board has unanimously approved the appointment of Keki Mistry as the chairperson with immediate effect, subject to approval of the Insurance Regulatory and Development Authority of India as Deepak Parekh has decided to step down as the chairperson and non-executive director of the company with effect from the close of the business hours on Thursday, according to an exchange filing.
Mistry has been associated with the company since December 2000 and is currently acting as the non-executive director. He is a qualified chartered accountant. Mistry was the chief executive officer of Housing Development Finance Corp.
With the amalgamation of HDFC with HDFC Bank Ltd., Mistry superannuated from HDFC and has been appointed as a non-executive director on the board of HDFC Bank. He is also a director on the boards of several other prominent companies.
Other Highlights
VK Viswanathan and Prasad Chandran will cease to be independent directors of the company upon completion of their two consecutive terms of five years each on April 24.
The board has approved the appointment of Venkatraman Srinivasan as an additional - independent director, effective April 18, for a term of five years, subject to the approval of the shareholders in the ensuing annual general meeting of the company.
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