 "Top level rejig at Max Group after Max India Ltd demerger")
Top level changes have been made in the Max Group consequent to the demerger of its listed company Max India Ltd into three listed companies, the group said on Friday.
According to the group, Analjit Sigh will now be the founder and chairman emeritus of Max Group and Rahul Khosla has been elevated as the president of the group.
Khosla's elevation is part of a planned and orderly succession process that started with his appointment as managing director, Max India in 2011.
Meanwhile, HSBC India's former chairman Naina Lal Kidwai joins the Max Group as chairman of Max Financial Services.
According to the statement, Singh formally stepped down from the chairmanship and board of the demerged entity Max Financial Services on Friday.
He will step down from the chairmanship and boards of the demerged Max India and the group's life insurance company, Max Life Insurance at their respective board meetings, but will remain chairman of Max Ventures and Industries and Antara Senior Living.
Also Read
On the other hand, Khosla will assume various roles in the Max group - as executive president of Max Financial Services and chairman of Max India, Max Life Insurance and Max Healthcare.
The other significant changes in the group leadership are:
Mohit Talwar, currently deputy managing director of Max India, is being elevated to the position of managing director, Max Financial Services and Max India.
Rajesh Sud is being elevated to the position of vice chairman, Max Life Insurance while retaining his position as the company's managing director. He will also continue to be chairman, Max Bupa and will lead the group's activities in the insurance and financial services sector.
Tara Singh Vachani, CEO, Antara Senior Living has been elevated as its managing director and Sahil Vachani will assume the position of managing director, Max Ventures and Industries.