HDFC Life Insurance’s chairman Deepak S Parekh stepped down from his role, the company said in an exchange filing on Thursday.
“Deepak S Parekh has decided to step down as the Chairman and NonExecutive Director of the Company with effect from close of the business hours on April 18, 2024,” the company said.
The company also said that they have appointed Keki M Mistry as the Chairman of the Board. “The board has unanimously approved the appointment of Keki M Mistry as the Chairman of the Board with immediate effect subject to approval of Insurance Regulatory and Development Authority,” the company said.
Mistry has been associated with the company since December 2000 and is currently acting as Non-Executive Director.
“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.
The insurer also said that VK Viswanathan and Prasad Chandran shall cease to be Independent Directors of the Company after completing their two consecutive terms of five years each on April 24, 2024.
Moreover, the company also appointed Venkatraman Srinivasan as an Independent Director. “The board has approved the appointment of Mr Venkatraman Srinivasan as an Additional – Independent Director
effective April 18, 2024, for a term of 5 consecutive years subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company,” it said.
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