Home Business Deepak Parekh steps down as chairman, non-executive director of HDFC Life
Business - April 19, 2024

Deepak Parekh steps down as chairman, non-executive director of HDFC Life

HDFC Life Insurance announced that Deepak Parekh has stepped down from his roles as chairman and non-executive director. This decision came into effect on April 18, 2024. In his place, Keki M Mistry has been appointed as the new chairman of the board, with unanimous approval from the company’s board members. However, Mistry’s appointment is subject to the Insurance Regulatory and Development Authority’s approval.

Keki M Mistry, aged 69, brings a wealth of financial expertise to his new role, having served previously as the vice-chairman and CEO of Housing Development Finance Corporation (HDFC) Limited. As a chartered accountant and a fellow member of the Institute of Chartered Accountants of India, Mistry’s background aligns well with the demands of leading HDFC Life Insurance into the future.

Meanwhile, the company has also welcomed Venkatraman Srinivasan as an independent director, effective April 18, 2024. Srinivasan’s appointment is for a term of five consecutive years, contingent upon shareholder approval at the upcoming annual general meeting. These changes mark a strategic move by HDFC Life Insurance to strengthen its leadership team and governance structure.

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