IndiaFirst Life Insurance has informed the National Stock Exchange (NSE) that R.M. Vishakha, the managing director and chief executive officer (MD & CEO), will retire from the company on June 30, 2024.
Based on the recommendation of the Nomination and Remuneration Committee (NRC), the board has approved the appointment of Rushabh Gandhi, currently the deputy CEO, as the new MD and CEO for a term of five consecutive years starting from July 1, 2024, or the date of regulatory approval(s), whichever is later.
The company release states, “The matter is subject to approval of Insurance Regulatory and Development Authority of India (IRDAI), shareholders, and such other statutory approvals, as may be applicable. The necessary intimation about the exact date of appointment of Rushabh Gandhi will be filed with the exchange on receipt of requisite approvals.”
The board of directors of IndiaFirst Life has expressed its heartfelt appreciation to R.M. Vishakha for her invaluable contributions. Her results-oriented leadership over the past nine years has been instrumental in guiding the company to consistently reach significant milestones, solidifying its position as a leader in the life insurance sector.
The board welcomes Rushabh Gandhi as the new MD and CEO, marking a new chapter for the company and aligning perfectly with the company’s succession planning. Having worked alongside R.M. Vishakha since 2015, Rushabh Gandhi brings a wealth of experience at IndiaFirst Life in driving growth and profitability. This experience is complemented by his strategic vision that resonates with the core values of IndiaFirst Life.
He is a financial services industry leader with over 29 years of experience across national and international markets.
