Deepak Parekh, the chairman of HDFC Life Insurance, has tendered his resignation from the position, as revealed in an exchange filing on Thursday. Taking his place, Keki Mistry has been designated as the new chairman of the board.
In an official statement, the company conveyed, “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, with his extensive experience, joined HDFC Life Insurance in December 2000 and presently holds the position of Non-Executive Director. Prior to this, he served as the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited. Following the merger of HDFC Limited with HDFC Bank, Mistry transitioned into the role of a Non-Executive Director at HDFC Bank. He also serves on the boards of various other prominent companies.
Furthermore, the company disclosed the completion of the tenures of Independent Directors VK Viswanathan and Prasad Chandran, both of whom served for two consecutive terms of five years each. Additionally, Venkatraman Srinivasan has been appointed as an Independent Director for a five-year term, following the recommendation of the nomination & remuneration committee.
