Deepak Parekh has been reappointed by the HDFC board to continue as the executive chairman of the financial institution till December 2009.
Mr Parekh, 64, has been reappointed as managing director of the corporation (designated as chairman) with effect from March 1, 2009, to December 31, 2009, subject to shareholders’ approval in the next annual general meeting.
Chances are that Mr Parekh will continue as a non-executive chairman from January 2010. Mr Parekh has been a part of Housing Development Finance Corporation Limited (HDFC) for nearly three decades having joined the organisation in 1978, a year after it was set up.
Mr Parekh had quit his job at Chase Manhattan Bank in New York to join HDFC at the insistence of his uncle HT Parekh, who was the founder and chairman of the country’s first housing finance company.
To read more, please, visit - -The Economic Times
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