Keki Minoo Mistry was the CEO and Vice Chairman of HDFC Ltd since 2010. Post its merger with HDFC Bank, he joined the bank as an additional and Non- Executive Director (Non-Independent) on June 30, 2023. He is also the Non-Executive Chairman of HDFC Ergo General Insurance Company Limited.
IT major Tata Consultancy Services on Wednesday said that former HDFC CEO and Vice Chairman Keki Mistry, Hanne Birgitte Breinbjerg Sorensen, and Al-Noor Ramji will join the company board as non-exceutive independent directors.
In an exchange filing on Wednesday, TCS said as per rules, Sorensen, Mistry and Ramji are not debarred from holding office of directors by virtue of any Order passed by the Securities and Exchange Board of India or any other authority.
“ln accordance with BSE circular no. LIST/COMP/14/2018-19 and NSE circular no. NSE/CML/2018/24, dated June 20, 2018, it is hereby confirmed that Ms. Hanne Birgitte Breinbjerg Sorensen, Mr. Keki Minoo Mistry and Mr. Al-Noor Ramji are not debarred from holding office of Directors by virtue of any Order passed by Securities and Exchange Board of India or any other authority. There is no inter-se relationship between Ms. Hanne Birgitte Breinbjerg Sorensen, Mr. Keki Minoo Mistry, Mr. Al-Noor Ramji and any other member of the Board,” TCS said.
Keki Minoo Mistry was the CEO and Vice Chairman of HDFC Ltd since 2010. Post its merger with HDFC Bank, he joined the bank as an additional and Non- Executive Director (Non-Independent) on June 30, 2023. He is also the Non-Executive Chairman of HDFC Ergo General Insurance Company Limited.
Mistry is currently a member of the Primary Markets Advisory Committee set up by Sebi. He is the chairman of the sub-group constituted by Sebi to ‘Review the Reverse Book Building Process and Review the Compulsory Delisting Framework Adopted by Stock Exchanges’.
He also joined Cyrus Poonawalla Group as the strategic advisor to all its financial services ventures spearheaded by Adar Poonawalla.
Sorensen is a Danish national and holds an MSc in Economics and Management from the University of Aarhus. During the period 1994-2016, she was engaged in various roles within the A.P. Moller – Maersk A/S Group in Denmark.
Sorensen is presently on the board of directors and committees thereof of various international companies. She is a member of the Audit Committee and Nomination and Remuneration Committee of TCS.
The company added that Daniel Hughes Callahan, also known as Don Callahan, Independent Director of the Company, whose term of office expires on January 9, 2024, will not continue his term. Accordingly, his tenure as Independent Director shall come to an end on January 9, 2024.
“On behalf of the Board, I thank Don for his enormous contribution and guidance during his tenure on the Board of TCS. The Company, Board and the Management have immensely benefited from his profound knowledge of the industry, of evolving technology landscape and impact of technology on businesses. We are grateful for his contribution to the Board, Audit and Risk Management Committees of the Board. I am delighted to welcome Al Noor Ramji to the Board of TCS. His vast experience in driving digital transformation across a broad range of industries like banking, telecom and hi-tech will be very valuable to the company,” said N Chandrasekaran, Chairman, Board of Directors, TCS.
TCS, which is the largest IT firm in terms of sales, on Wednesday reported a 8.74 per cent year-on-year (YoY) rise in net profit at Rs 11,342 crore for the September quarter.
Source: Business Today