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Piramal Enterprises Ltd (PIRA.NS)

PIRA.NS on National Stock Exchange of India

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29 May 2017
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Summary

Name Age Since Current Position

Ajay Piramal

61 Executive Chairman of the Board

Swati Piramal

2013 Vice Chairman of the Board

Rajesh Laddha

Chief Financial Officer

Peter DeYoung

Chief Executive Officer - Critical Care

Jonathan Sandler

Chief Executive Officer - Decision Resources Group

Vivek Sharma

Chief Executive Officer - Pharma Solutions

Leonard D'Souza

Company Secretary, Compliance Officer

Ludger Dinkelborg

Managing Director - Imaging

Khushru Jijina

Managing Director - Piramal Fund Management

Nandini Piramal

2009 Executive Director

Vijay Shah

55 2016 Executive Director

Jayesh Desai

Co-Head - Structured Investments Group

Shantanu Nalavadi

Co-Head - Structured Investments Group

Kedar Rajadnye

Chief Operating Officer - Consumer Products

Gautam Banerjee

61 2013 Non-Executive Independent Director

Keki Dadiseth

71 2005 Non-Executive Independent Director

Raghunath Mashelkar

74 2011 Non-Executive Independent Director

Goverdhan Mehta

71 2011 Non-Executive Independent Director

Siddharth Mehta

2013 Non-Executive Independent Director

Subramaniam Ramadorai

72 2002 Non-Executive Independent Director

Deepak Satwalekar

68 2002 Non-Executive Independent Director

Narayanan Vaghul

80 Non-Executive Independent Director

Hitesh Dhaddha

2015 IR Contact

Biographies

Name Description

Ajay Piramal

Mr. Ajay G. Piramal is Executive Chairman of the Board of Piramal Enterprises Limited. He is one of India’s leading industrialists, philanthropists and social entrepreneurs. He is the Chairman of Piramal Group, with activities in healthcare, financial services, real estate, information services, glass packaging, etc. Apart from India, the Group has set-ups in the US, UK, European Union, Japan, Pacific and South Asia, with its products being sold in more than 100 countries. He is also the Chairman of Shriram Capital, the holding Company for Financial Services and Insurance entities of Shriram Group. The Group is involved in various Corporate Social Responsibility (CSR) activities in the space of primary education, potable water supply, leadership development, empowerment of women in rural India, rural healthcare and provision of mid-day meals to school children, etc. The Piramal Foundation has received the prestigious ‘Corporate Trailblazer Award’, launched by the India Today Group (Safaigiri Awards 2015 as a part of the national campaign called Clean India Mission). The award was presented by the Hon’ble Prime Minister of India, Mr. Narendra Modi. This award was given in recognition of the excellent work being done by Piramal Sarvajal in the social entrepreneurship space.

Swati Piramal

Dr. Swati A. Piramal is Vice Chairman of the Board of Piramal Enterprises Limited. She is the Vice Chairperson of Piramal Enterprises Limited and a Whole-time Director. She is one of India’s leading scientists and industrialists, and is involved in public health and innovation. She earned her medical degree from Mumbai University and completed her Master’s in Public Health from the Harvard School of Public Health. She has used her background in medicine, public health and business to change the trajectory of healthcare, education, and public policy in India. Dr. Piramal is a member of the Harvard Board of Overseers and Dean’s Advisor to Harvard Business School & Public Health. In addition to her other commitments, Dr. Piramal is deeply committed to Corporate Social Responsibilities activities. She is involved in projects across healthcare, education, livelihood creation and youth empowerment. She aims to resolve issues that are critical roadblocks towards unlocking India’s economic potential by finding innovative solutions. She also looks at avenues for promoting health in rural India with mobile health services, women’s empowerment projects and supporting community education that create young leaders. As the first woman president of India’s Apex Chamber of Commerce in 90 years, she helped influence important public policies and governance. She served as an adviser to the Indian Prime Minister in science, technology and economic policy (2006-2014). Dr. Piramal is a leader who makes a positive difference to the community and the world. Her contributions in innovations, new medicines and public health services have touched thousands of lives.

Rajesh Laddha

Mr. Rajesh Laddha is Chief Financial Officer of the company. He is currently the Group Chief Financial Officer for Piramal Group and has over 25 years of overall experience in the field of Finance. He currently oversees the entire Finance function for Piramal Group, including Piramal Enterprises. He has been part of senior management team at the Piramal Group and has also contributed significantly towards the Group’s Strategy and Vision for the year 2020. He has extensive experience in areas such as Corporate Finance, M&A, Strategy, Investments, Structuring and Taxation. He has been very closely associated with all the businesses of Piramal Group and actively participates in the affairs of these businesses. He has been deeply involved in various large transactions including some of large ones such as sale of business to Abbott, investment in Vodafone India Limited, purchase of strategic stake in Shriram Group Companies and equity investments by Goldman Sachs and Warburg Pincus in the Realty business of the Group. He has been closely associated with affairs at Shriram Group since Piramal Group’s investment in Shriram. He currently serves on the board of various companies. He has been on the Board of Vodafone India Limited and currently, is a member of the Board of Shriram Capital Limited. He is an MBA from University of Chicago, USA. He is also a qualified Chartered Accountant from India, a Certified Public Accountant from the USA and a Certified Management Accountant from the UK.

Peter DeYoung

Mr. Peter DeYoung is Chief Executive Officer - Critical Care of the company. He is the CEO of Piramal Critical Care. He is a member of the Piramal Pharma Operating Board and also a member of the Board of Piramal Imaging SA. Prior to joining Piramal, he worked in a range of investing and consulting roles in healthcare in the US, Europe and India. He joined McKinsey & Company in New York after graduating from Princeton, where he worked on a number of projects for pharmaceutical and medical device companies. He was then seconded by McKinsey to the World Economic Forum in Geneva, Switzerland as a Project Manager for the Global Health Initiative, where he implemented an HIV/AIDS, TB and malaria advocacy strategy focused on boosting private sector programmes in South East Asia and Africa. He then returned to McKinsey as an Engagement Manager in New York and later in Mumbai, where he focused on the pharmaceutical and healthcare practice. He helped clients address a range of strategic, organisational, and operational challenges. He then went on to join the Blackstone’s Private Equity Group in Mumbai. He was on the deal team for several significant transactions across a variety of industry sectors in India. He completed his Bachelors of Science in Engineering from Princeton University, New Jersey, USA (summa cum laude, phi beta kappa, tau beta pi) and his Masters of Business Administration at Stanford University (Arjay Miller Scholar), California, USA.

Jonathan Sandler

Mr. Jonathan M. (Jon) Sandler is Chief Executive Officer - Decision Resources Group of the company. He is the CEO of Decision Resources Group (DRG), Piramal’s Health Care Information subsidiary. DRG offers high-value data, analytics and insights products and services to the global healthcare industry. Mr. Sandler, who joined Piramal in 2011, also serves as Managing Director of IndUS Growth Partners, Piramal’s North American strategic investment affiliate. Prior to joining Piramal, he spent 17 years at the Kessler Group, a financial services boutique, where he served as Vice Chairman, Group CFO, founding CEO of Kessler International and founding CEO of Kessler Capital. In these roles, Mr. Sandler was responsible for driving the company’s growth, diversification, global expansion, operating effectiveness and profit expansion. He began his career as an investment banker at Bankers Trust Company in New York and then as a strategy consultant with the MAC Group in Cambridge. He received a BA and MBA from Harvard University. He is on the Board of Piramal Imaging and Bluebird Aerosystems. Besides, he is a Trustee of Combined Jewish Philanthropies.

Vivek Sharma

Mr. Vivek Sharma is Chief Executive Officer - Pharma Solutions of the company. He is currently serves as the CEO of Piramal Pharma Solutions (PPS), a global leader in providing Contract Research, Development and Manufacturing services towards the life sciences industry. PPS offers integrated solutions from discovery through development and commercialisation, with research and manufacturing facilities in North America, Europe, and Asia. Under his leadership, PPS has been voted ‘global top 10% CMO’ for 2014 and 2015. He started his stint in the Piramal Group by heading the Piramal Critical Care (PCC) business and was instrumental in improving profitability and establishing it as the third largest and the fastest growing Inhalation Anesthetics company globally. Prior to Piramal, Mr. Sharma was Managing Director at THL Partners, a Boston based global private equity fund, and has held senior leadership positions in Finance and Operations at AMD and Motorola. He was recently awarded the ‘CEO Of The Year’ at CPhi 2015 and has been listed among ‘the top 100 finance professionals in the United States’. He is based out of Boston and is a Chartered Accountant from India. Besides, he is a qualified CPA, and holds a Masters in International Business from Thunderbird School of Management.

Leonard D'Souza

Ludger Dinkelborg

Dr. Ludger Dinkelborg is Managing Director - Imaging of the company. He leads the Imaging Division of Piramal Enterprises. This division was created through the acquisition of worldwide rights for the Molecular Imaging Research and Development Portfolio of Bayer Pharma AG. Before co-founding Piramal Imaging, Dr. Ludger served as Head of Diagnostic Imaging Research and Head of Molecular Imaging at Bayer HealthCare. He has over 20 years of R&D experience in the pharmaceutical industry. He received his PhD in Biology from Heinrich-Heine-University, Düsseldorf, and stayed as guest researcher at the Max-Planck-Institute for Molecular Physiology in Dortmund. He became a fellow of the Konrad- Adenauer-Foundation, attended the Cranfield Schering University course for managers and also attended the Executive Programme at Stanford School of Business, CA.

Khushru Jijina

Mr. Khushru Jijina is Managing Director - Piramal Fund Management of the company. He is the Managing Director of Piramal Fund Management Private Limited (PFM), the largest real estate fund and investment management platform in India. As Managing Director, he oversees the entire spectrum of activities ranging from origination, investments, asset management, exits and new fund raising performed by an 80+ member management team under his supervision. Apart from being a key man for PFM, Mr. Jijina also serves as Group Treasurer and leads the Family Office for all proprietary investments. Mr. Jijina is a Chartered Accountant by profession with an illustrious career spanning over two decades in the field of real estate, corporate finance and treasury management and has been with the Piramal Group for more than 15 years. Prior to PFM, Mr. Jijina was spearheading the Group’s foray into real estate development as the Managing Director of Piramal Realty. Previously, he was an Executive Director in Piramal Sunteck Realty, where he was responsible for a portfolio of projects spanning Mumbai, Navi Mumbai, Nagpur, Jaipur and Oman and oversaw all aspects of their execution. He started his career with Rallis, where he held several important positions in corporate finance for over 12 years. The Piramal Fund Management platform, under his leadership, is organised around an integrated approach to real estate funding; and is capable of catering to the entire capital stack i.e. early state private equity, structured/mezzanine equity, structured debt, senior secured debt, construction finance as well as bulk buying of individual residential units. PFM currently manages/advises an AUM of $1.8bn, in addition to a proprietary debt book with gross disbursements worth of $1.6bn. In 2014, PFM also formalised a $0.5bn strategic joint venture (JV) with Canadian Pension Plan Investment Board (CPPIB) for high yield residential debt funding, the largest FDI investment into India since 2005.

Nandini Piramal

Ms. Nandini Piramal is Executive Director of Piramal Enterprises Limited. She leads the Over-The-Counter (OTC) business of the Company. She heads the Human Resources function at Piramal Group and the Quality & Risk functions at Piramal Enterprises. Over the last five years, under Nandini’s leadership, the Company’s OTC segment has become one of the fastest-growing Indian OTC businesses. All our brands are either no.1 or no.2 in their respective categories. She has played a pivotal role in Piramal Healthcare’s branded generic-medicine business sale to Abbott Laboratories at a record 30x EBITDA. She has recently initiated an HR transformation strategy, with renewed focus on service delivery, customer centricity and operational excellence. This is a five-year restructuring programme, SEEDS, to build and develop the existing talent and to attract new talent. In 2014, the World Economic Forum recognised Nandini as a ‘Young Global Leader’. Nandini is passionately involved with Piramal Foundation, the philanthropic arm of Piramal Group. She directs implementation strategy across Piramal Foundation Education Leadership programmes, Piramal Sarvajal and Piramal Swasthya. She graduated with BA (Hons) Politics, Philosophy, and Economics from Oxford University, followed by an MBA from Stanford Graduate School of Business.

Vijay Shah

Mr. Vijay Shah is Executive Director of Piramal Enterprises Limited. He is an Executive Director on the Board of Piramal Enterprises and the Director of Piramal Glass. Mr. Shah has been associated with the Piramal Group for 28 years. Over the Group’s history, he has successfully spearheaded many businesses and companies. Mr. Shah joined the Piramal Group in 1988. He initiated the Strategic Planning function in Piramal Enterprises. He took over as Managing Director of Gujarat Glass Limited in September, 1992. The Company became a dominant player in the Indian Pharma packaging market with 40% market share and commanded a premium pricing. With the success of building a business and turning around a loss-making company, Mr. Shah was put in charge of a completely diverse business of Pharmaceutical Formulations in India. He then took over as the Executive Director and Chief Operating Officer of Piramal Healthcare in 2000. During the period, the Company moved from rank 23 to rank 4 in Indian Pharma Industry with several acquisitions, and created the largest field-force in Indian pharmaceutical market with 3,500 people, spanning across 10 divisions and four businesses. He was involved in a number of acquisitions and handled post-acquisition integration, along with heading the healthcare vertical, which included Pharma Solutions and Critical Care businesses. In October 2005, Mr. Shah aided the acquisition of the loss-making Glass Group’s Cosmetic and Perfumery business in USA and then he once again took charge of Piramal Glass Limited as its Managing Director and successfully turned around a bankrupt company in the US acquisition, despite the recessionary trend. With effect from 1st January, 2012, Mr. Shah took charge as Executive Director & Chief Operating Officer of Piramal Enterprises Limited, in charge of Pharma Solutions and Critical Care. In January 2014, he was appointed as the Chairman of the Pharma Operations Board of Piramal Enterprises Limited.

Jayesh Desai

Mr. Jayesh Desai is Co-Head - Structured Investments Group of the company. He is the Managing Partner of Structured Investments Group at Piramal Enterprises Limited, Mumbai, India. Mr. Desai joined the Company in April 2012, heading the Structured Investments Group which provides structured mezzanine funding to corporates in various sectors, including infrastructure. Mr. Desai is a Chartered Accountant with professional experience of over 25 years in the field of corporate finance, financial services and infrastructure advisory. Over the years, he has been instrumental in setting-up and running businesses in various capacities in Ernst & Young (E&Y), Coca-Cola and Piramal. He has spent 15 years with E&Y (as Director for Infrastructure and National Director for Transaction Advisory Service, Head of Operations) and six years with Coca-Cola (Vice- President, Business Development). Mr. Desai was instrumental in conceptualising and implementing the Structured Investments Group at Piramal Enterprises Limited. He was instrumental in concluding a strategic alliance with the world’s second-largest pension fund viz., APG Asset Management. The alliance has jointly committed to investing US$ 1 billion in Indian Infrastructure. Over the last four years he has concluded investments in excess of US$500 million across diverse sectors such as infrastructure, renewables and cement.

Shantanu Nalavadi

Mr. Shantanu Nalavadi is Co-Head - Structured Investments Group of the company. He co-heads the Structured Investments Group (SIG) at Piramal Enterprises. He joined the SIG division in April 2015. Mr. Nalavadi carries with him over two decades of experience in financial services, banking and corporate finance. Prior to joining the Group, he was a Partner with New Silk Route Advisors Pvt. Ltd. (NSR), a private equity fund with over $ 850 million in assets under management. Mr. Nalavadi brings with him the experience of investing, creating value and monetising investments across several sectors, including financial services, consumer products, media, logistics and manufacturing. In creating value for his portfolio companies, he actively participated in partnering with managements for operational improvements, competitive marketing positioning and sustainable expansion. Prior to working at NSR, he worked with ANZ Grindlays Bank, Star TV and Walt Disney with P/L and business development responsibilities. Mr. Nalavadi articled with Arthur Andersen, India, before qualifying as a Chartered Accountant in 1993.

Kedar Rajadnye

Mr. Kedar Rajadnye is Chief Operating Officer - Consumer Products of the company. He is the COO of the Consumer Products business of Piramal Enterprises, one of the fastest growing self-care businesses in India. He is also responsible for the IT function of the Piramal Group. He joined the Piramal Group in 2004 to head a portfolio of domestic pharmaceutical business. Since 2008, he has been responsible for the Consumer Products division, which is consistently growing faster than the market. Over the years in the Indian OTC market, it has moved up from 40th rank in 2007 to the current 7th rank. Under his stewardship, the business has built one of the strongest Chemist distribution capabilities in India. He has played an influential role in building strong OTC brands such as Lacto Calamine, Saridon, Ipill, Tetmosol and Caladryl. Most of these brands are ranked either no.1 or no.2 in their respective categories. He was instrumental in acquisitions of Little’s, Naturolax, Lactobacilus and other brands last year. Prior to joining the Group, Mr. Rajadnye has worked at Hindustan Unilever for eight years in the sales and marketing division. He is an alumnus of Jamnalal Bajaj Institute of Management Studies and has also completed the Executive Development programme from the Harvard Business School.

Gautam Banerjee

Mr. Gautam Banerjee is Non-Executive Independent Director of Piramal Enterprises Limited. He is a Senior Managing Director and Co-chairman of the Blackstone Asia Operating Committee. He is also the Chairman of Blackstone Singapore. Mr. Banerjee’s non-executive corporate roles outside of Blackstone include serving as an Independent Director of Singapore Airlines, GIC (Singapore’s Sovereign Wealth Fund), The Indian Hotels Company and Piramal Enterprises. He also serves as a Vice Chairman of the Singapore Business Federation, Member of the Singapore Legal Service Commission and Chairman of raiSE, the Centre for Social Enterprise in Singapore. His other roles in the ‘not for profit sector’ include being a term trustee of SINDA and a member of the governing Board of Yale NUS College. Previously, Mr. Banerjee served as Executive Chairman of PricewaterhouseCoopers (PwC) Singapore for nine years until his retirement in December 2012. He spent over 30 years with the firm in various leadership roles in Singapore, India and East Asia. His previous non-executive appointments included serving as a member of the Economic Development Board and the National Heritage Board. He is a fellow of the Institute of Chartered Accountants in England and Wales, the Institute of Singapore Chartered Accountants and the Singapore Institute of Directors. He graduated with a Bachelor of Science (Honours) degree from Warwick University in 1977 and was awarded an Honorary Doctor of Laws (LLD) by the same University in 2014. He was a Nominated Member of Parliament in Singapore from 2007 to 2009 and a member of the Singapore Economic Strategies Committee (2009/2010). He was awarded the Public Service Medal by the Singapore Government in 2014.

Keki Dadiseth

Mr. Keki Bomi Dadiseth is Non-Executive Independent Director of Piramal Enterprises Limited. He is a Fellow of the Institute of Chartered Accountants of England & Wales, Mr. Keki Dadiseth joined Hindustan Lever Limited in India in 1973 as Manager in the Audit Department. His tenure in the Company included a three-year secondment to Unilever plc in London (1984-87), where he held senior financial and commercial positions. On his return to India in 1987, he joined the Board of Hindustan Lever and, until he became Chairman in 1996, headed several businesses (Detergents and Personal Products) and functions (Personnel and Acquisitions & Mergers activities) for the Group in India. Mr. Dadiseth was appointed Director on the Board of Unilever plc and Unilever NV in May 2000 and a Member of the Executive Committee. On January 1, 2001, he took over as Director, Home and Personal Care, responsible for the HPC business of Unilever worldwide. He retired from Unilever in May 2005. He was also a Non-Executive Director of Prudential plc from 2005-2013, and Chairman and Senior Advisor to Sony India Ltd for four years till early 2013. He retired as a Member of the International Advisory Board of Goldman Sachs in October 2012, after serving for six years. In India, Mr. Dadiseth is closely associated with various industry, educational, management and medical bodies. He is a Trustee of the Ratan Tata Trust and a Member of the Managing Committee, Breach Candy Hospital Trust. He is on the Boards of The Indian Hotels Company Limited, Britannia Industries, Piramal Healthcare, Siemens, ICICI Prudential Life Insurance, ICICI Prudential Asset Management Trust, Godrej Properties Limited, JM Financial Limited, JM Financial Services Ltd and has recently joined the Board of PIEM Hotels Ltd, a subsidiary of Indian Hotels. He is a Director on the Board of the Indian Business School. He is also Chairman/Member of Audit/Remuneration/Corporate Governance committees in some of these companies.

Raghunath Mashelkar

Dr. Raghunath Anant Mashelkar is Non-Executive Independent Director of Piramal Enterprises Limited. He is a National Research Professor, is presently also the President of Global Research Alliance, a network of publicly funded R&D institutes from Asia-Pacific, Europe and USA with over 60,000 scientists. He served as the Director General of Council of Scientific and Industrial Research (CSIR), with 40 laboratories and about 20,000 employees for over 11 years. He was also the President of Indian National Science Academy. Dr. Mashelkar is on the Board of Directors of several reputed companies such as Reliance Industries Ltd., Tata Motors Ltd., Thermax Ltd., Piramal Enterprises Ltd., KPIT Technologies Ltd, etc. He is deeply connected with the innovation movement in India and at present, he is the Chairman of India’s National Innovation Foundation, Reliance Innovation Council, KPIT Cummins Innovation Council and Marico Innovation Foundation. He is only the third Indian engineer to have been elected (1998) as Fellow of Royal Society (FRS), London in the twentieth century. He was elected Foreign Associate of National Academy of Science (USA) in 2005, Associate Foreign Member, American Academy of Arts & Sciences (2011); Foreign Fellow of US National Academy of Engineering (2003) and Fellow of Royal Academy of Engineering, U.K. (1996). Thirty-five universities have honoured him with honorary doctorates, which include Universities of London, Salford, Pretoria, Wisconsin and Delhi. In August 1997, Business India named Dr. Mashelkar as being among the 50 path-breakers in the post-independent India. On 16 November 2005, he received the Business Week (USA) award of ‘Stars of Asia’ from the hands of George Bush (Sr.), the former President of USA. He was the first Asian scientist to receive it. In the post-liberalised India, he has played a critical role in shaping India’s S&T policies. He was a member of the Scientific Advisory Council to the Prime Minister over the past three decades.

Goverdhan Mehta

Prof. Goverdhan Mehta is Non-Executive Independent Director of Piramal Enterprises Limited. He is a leading researcher in the area of Chemical Sciences, and currently, he is Lilly-Jubilant Chair Professor at the University of Hyderabad. He started his professional career at IIT Kanpur and then moved to University of Hyderabad, where he became the Vice Chancellor during 1994-1998. Subsequently, he served as the Director of Indian Institute of Science, Bangalore for seven years (1998-2005). He was CSIR Bhatnagar Fellow (2005-2010) at IISc and National Research Professor (2009-2014) at the University of Hyderabad before taking up his present position. Prof. Mehta is a Fellow of the Royal Society (FRS) and a Foreign Member of the Russian Academy of Sciences. He is also a Fellow of all the three Science Academies in India and the Third World Academy of Sciences. He has been the President of Indian National Science Academy and International Council for Science. He is a recipient of Padma Shri from the President of India and has been conferred with ‘Chevalier de la Legion d’Honneur’ and ‘Order of Merit – Commanders Cross’ by the Presidents of France and Germany, respectively.

Siddharth Mehta

Mr. Siddharth N. (Bobby) Mehta is Non-Executive Independent Director of Piramal Enterprises Limited. He is a former President and Chief Executive Officer of TransUnion LLC, a global provider of credit and information management services, from 2007 through 2012. From 1998 to 2007, Mr. Mehta held a variety of senior positions at Household International, HSBC Finance Corporation and HSBC North America Holdings, including CEO of HSBC North America Holdings, CEO of HSBC Finance Corporation and Group Executive (Credit Cards) at Household International. Prior to that, he was a Senior Vice President at the Boston Consulting Group and co-head of the firm’s North American Financial Services Practice. Currently, he is on the Boards of AllState Insurance, TransUnion LLC, Datacard, Piramal Enterprises and Avant Credit. Additionally he serves on several non-profit boards including the Field Museum, the Chicago Public Education Fund, the University of Chicago Laboratory Schools and the Myelin Repair Foundation.

Subramaniam Ramadorai

Mr. Subramaniam Ramadorai is Non-Executive Independent Director of Piramal Enterprises Limited. He has been in public service since February 2011. Currently, he is the Chairman of National Skill Development Agency (NSDA) in the rank of a Cabinet Minister. The NSDA is an autonomous body that coordinates and harmonises the skill-development efforts of the Government and the private sector to achieve the skilling targets of the nation. He is also Chairman of the National Skill Development Corporation (NSDC), a one-of-its-kind, Public Private Partnership (PPP) in India, under the Ministry of Skill Development & Entrepreneurship that aims to promote skill development by catalysing creation of large, quality, for-profit vocational institutions. He took over as the CEO of Tata Consultancy Services (TCS) in 1996, when the Company’s revenues were at $155 million; and since then he led the Company through some of its most exciting phases, including its going public in 2004. In October 2009, he retired as CEO, leaving a $6 billion global IT services company to his successor. He was then appointed as the Vice Chairman and held office until he retired in October 2014, after an association of over four decades with the Company. Mr. Ramadorai is currently the Chairman of AirAsia (India), Tata Advanced Systems Limited, Tata Technologies Limited and Tata STRIVE, which is the Tata Group’s CSR skill development initiative that aims to address the pressing national need of skilling youth for employment, entrepreneurship and community enterprise. he retired as the Chairman of the Bombay Stock Exchange (BSE Limited) after having served for a period of six years on the Board. He continues to be an Independent Director on the Boards of Hindustan Unilever Limited, Asian Paints Limited and Piramal Enterprises Limited. Given his keen passion to work for the social sector and community initiatives, he also serves as the Chairman of the Council of Management at the National Institute of Advanced Studies (NIAS) a Recently, in March 2016.

Deepak Satwalekar

Mr. Deepak M. Satwalekar is Non-Executive Independent Director of Piramal Enterprises Limited. He serves on the India advisory board of a large European bank. He is currently active on the board of trustees of several non-profit organisations, engaged in the field of primary education for the low-income and underprivileged members of society in rural and urban India. He was the Managing Director and CEO of HDFC Standard Life Insurance Co. Ltd. till 2008. He has also been a consultant to the World Bank, the Asian Development Bank, the United States Agency for International Development (USAID) and the United Nations Human Settlements Programme (HABITAT). Mr. Satwalekar is a recipient of the ‘Distinguished Alumnus Award’ from the Indian Institute of Technology (IIT), Bombay. He is on the Advisory Council of IIT Bombay, and has chaired or been a member of several industries, governments and the Reserve Bank of India expert groups.

Narayanan Vaghul

Mr. Narayanan Vaghul is Non-Executive Independent Director of Piramal Enterprises Limited. He is the Former Chairman of ICICI Bank Limited, which is the second largest Commercial Bank in the country. He is widely recognised in India for his role in pioneering the concept of the Universal Banking Model that laid the foundation for a new era in Indian Banking. Mr. Vaghul received his Bachelor of Commerce (Hons) Degree from the University of Madras in 1956. He joined the State Bank of India in 1957 as a Probationary Officer, became the Director in the National Institute of Bank Management, Mumbai in 1976, before assuming charge as the Executive Director in Central Bank of India in 1978. He became the Chairman of the Bank of India in 1981 and was the youngest ever Chairman in a Public Sector Bank. He joined ICICI Limited as Chairman & CEO in 1985, and continued to head the Group till April 2009. During his tenure in ICICI, he created several new institutions laying the foundation for the development of the Universal Banking. He started the first venture capital company in India in 1987; and from a small beginning this has become a leading venture capital company today. He was also instrumental in setting up ICICI Securities, an Investment Banking company. When the banking licence was thrown open to the non-state players, he set up a commercial bank with which ICICI was to merge, subsequently, to become the first major universal financial institution catering to the diverse needs of all segments of customers. He also pioneered the concept of ‘Credit Rating’ in India by setting up CRISIL. He was the Founder Chairman of CRISIL for close to 10 years and has helped in evolving the best practices of credit rating in the country. Mr. Vaghul was deeply interested in spreading education, particularly to the under-privileged sections of society. He was the Chairman of ‘Pratham’, a leading NGO in this sector. He is associated with several foundations dedicated to the cause of primary education.

Hitesh Dhaddha