HDFC Life Insurance Company’s Chairman Deepak Parekh Steps Down, Keki Mistry Takes Over
The Board of HDFC Life Insurance Company Limited has unanimously approved the appointment of Keki M. Mistry as the Chairman of the Board with immediate effect, subject to the approval of the Insurance Regulatory and Development Authority. Mistry has been associated with the company since December 2000 and is currently acting as a Non-Executive Director. He replaced Deepak S. Parekh, who has decided to step down as Chairman and Non-Executive Director with effect from April 18, 2024.
The Board has approved the appointment of Venkatraman Srinivasan as an Additional Independent Director with effect from April 18, 2024, for five years. Subject to the approval of the shareholders.
V. K. Viswanathan and Prasad Chandran shall cease to be the Independent Directors of the company upon completion of their two terms of five years each on April 24, 2024.
Mistry is a fellow member of the Institute of Chartered Accountants of India (ICAI). He was the Vice Chairman and CEO of Housing Development Finance Corporation (HDFC) Limited. With the amalgamation of HDFC Limited with HDFC Bank, he 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. He is a member of the Primary Market Advisory Committee (PMAC), constituted by the Securities and Exchange Board of India (SEBI). He is currently a member of the Expert Committee constituted by SEBI to facilitate ease of doing business and harmonisation of the provisions of ICDR and LODR Regulations and is the Chairman of Working Group 1 of the Expert Committee. He is also a member of the Standing Committee on Primary Markets, which has been constituted by the International Financial Services Centres Authority [IFSCA].
Venkatraman Srinivasan is a practicing Chartered Accountant, holds a Bachelor’s Degree in Commerce, and is a Fellow of the Institute of Chartered Accountants of India. He has over 40 years’ experience in auditing the accounts of large public limited companies, nationalised banks, insurance companies, and indirect tax and corporate advisory planning.
