BWI: HDFC Announces Changes in Senior Management Positions, Effective 1st January 2010

Press release from Business Wire India
Source: Housing Development Finance Corporation Limited
Friday, December 04, 2009 07:32 PM IST (02:02 PM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Construction, Real estate
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HDFC Announces Changes in Senior Management Positions, Effective 1st January 2010


Mumbai, Maharashtra, India, Friday, December 04, 2009 -- (Business Wire India) -- Mr. Deepak S. Parekh, Chairman and Chief Executive Officer of the Corporation, after 31 years of service of which 16 years were as Chairman, has decided to step down from his executive position with effect from the close of business hours on December 31, 2009.

Mr. Parekh has been appointed as an Additional Director of the Corporation w.e.f. January 1, 2010 and shall hold office as such up to the date of the next Annual General Meeting of the Corporation (AGM) pursuant to the provisions of Section 260 of the Companies Act, 1956. However, he will continue to be the Chairman of the Corporation.

Mr. Keki M Mistry, currently the Vice Chairman & Managing Director will be re-designated as the Vice Chairman and Chief Executive Officer of the Corporation w.e.f. January 1, 2010. Mr. Keki M Mistry joined the Corporation in 1981, has served on the Board of the Corporation for 16 years. He has worked in various positions and now would be responsible for the overall functioning of the Corporation.

Mrs. Renu Sud Karnad, currently the Joint Managing Director has been appointed as the Managing Director of the Corporation for a period of 5 years, w.e.f. January 1, 2010, subject to the approval of the Shareholders at the ensuing AGM. Having joined the Corporation in 1978, Mrs. Renu Sud Karnad has been on the Board for the last 9 years. She will continue to be responsible for the Operations, Human Resources and Communications functions of the Corporation.

Mr. V. Srinivasa Rangan, Sr. General Manager & Chief Treasurer has been appointed as the Executive Director of the Corporation for a period of 5 years, w.e.f. January 1, 2010, subject to the approval of the Shareholders at the ensuing AGM. Mr. Rangan joined the Corporation in 1983 and has served in Delhi and Mumbai. He will also oversee the Resources and Accounts functions of the Corporation.

To view the photograph, click the link below:

Mr. Deepak S. Parekh, Mr. Keki M Mistry, Mrs. Renu Sud Karnad, Mr. V. Srinivasa Rangan
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/PIC(49).JPG
PIC(49).JPG


CONTACT DETAILS
Mahesh Shah, Housing Development Finance Corporation Limited, maheshs@hdfcindia.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, CONSTRUCTION, REAL ESTATE, 500010.BO, HDFC.NS

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