HDFC Life board to meet on September 12 to consider new MD, CEO appointment
Move follows after Amitabh Chaudhry resigned from the post; Chaudhry will take over as MD and CEO of Axis Bank
New Delhi: HDFC Standard Life on Saturday said its board will meet on September 12 to consider the appointment of new managing director and chief executive officer of the company after incumbent Amitabh Chaudhry resigned from the post.
Chaudhry has been appointed as MD and CEO of Axis Bank for a period of three years from January 1, 2019 to December 31, 2021, the bank informed stock exchanges separately.
In a filing to stock exchanges, HDFC Standard Life said Chaudhry, managing director and CEO, has tendered his resignation. “We wish to inform you that meetings of the Nomination and Remuneration Committee and the Board of Directors of HDFC Standard Life Insurance Company are scheduled to be held on Wednesday, September 12, 2018 inter-alia to note the resignation, and consider the appointment of new managing director & CEO of the Company,” the life insurance company said.
The appointment will be subject to the approval of shareholders and the Insurance Regulatory and Development Authority of India (IRDAI). The trading window of the company will remain closed from September 9, 2018 to September 14, 2018 for all the employees, directors of the company, immediate relatives and others according to Sebi Regulations, HDFC Standard Life said.
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