Britannia Industries’ Appoints Urjit Patel & Sunil Siddharth Lalbhai as Independent Directors

The Board of Directors of Britannia Industries Limited has approved the appointment of Dr. Urjit Patel and Sunil Siddharth Lalbhai as Additional Non-Executive Independent Directors for five years, with effect from July 2, 2024. Subject to the approval of the members.

Dr. Urjit Patel, 60, served as the 24th Governor of the Reserve Bank of India (RBI). During his tenure, he was a member of the Board of Directors of the Bank for International Settlements and served on the Advisory Board of the Financial Stability Institute. Prior to that, Dr. Patel served as Deputy Governor in charge of monetary policy, economic research, and financial markets operations at the RBI since January 2013. Later, he served as Principal/Deputy in the G-20, BRICS Finance Ministers and Central Bank Governors groups. He was VP (Investment Operations Region 1) at the Asian Infrastructure Investment Bank. Currently, he is Chairman of the National Institute of Public Finance and Policy. Prior to public service, he was in the private sector for about fifteen years in various capacities, viz., in Reliance Industries Limited and IDFC Limited, amongst others. He also worked at the International Monetary Fund and was a consultant to the Indian Ministry of Finance. He was a Non Resident Senior Fellow, The Brookings Institution, Washington D.C. Dr. Patel is a recipient of the Wilbur Cross Medal at Yale University and is an Honorary Fellow at Linacre College, University of Oxford.

Sunil Siddharth Lalbhai has been the Chairman of Atul Limited since 2007 and its MD since 1984. He was appointed as convener by the Government of India to prepare a Perspective Plan for Chemical Industry and a report for 11th 5-year plan for chemical industry in 1989 and 2006, respectively. Lalbhai was also appointed as convener by the Government of Gujarat to prepare a blueprint to develop the dyestuff Industry in 1991. He has been a trustee on the Board of the BAIF Development Research Foundation since 2012. He is also a trustee, Chairman and member of the committees of various Trusts of Lalbhai Group. He holds a postgraduate degree in Chemistry from the University of Massachusetts, USA and a postgraduate degree in Economic Policy and Planning from Northeastern University, USA. Besides this, he also undertook various courses at the Institute of Chemical Technology, India, Tufts University, USA and Manchester Business School, UK.