Mumbai, 17th August 2007: Mr. Subir Raha has joined Hinduja Group India Ltd. (HGIL) as Executive Vice Chairman. He will also take over as Chairman, Hinduja National Power Company Ltd. (HNPCL). |
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Mr Raha had served, for five years effective 25th May 2001, as Chairman & Managing Director of Oil and Natural Gas Corporation Ltd (ONGC) and Chairman of ONGC Group Companies consisting of ONGC Videsh Ltd. (OVL), Mangalore Refinery & Petrochemicals Ltd (MRPL), ONGC Mittal Energy Ltd (OMEL), Kakinada SEZ Ltd. (KSEZL), ONGC Tripura Power Company Ltd. (OTPCL) and others. During this period, ONGC achieved and sustained its numero uno position as the Most Valuable among all Indian companies, private sector included and the No. 1 Global E&P Company, OVL achieved the status of India's biggest MNC, and MRPL achieved the distinctions of highest capacity utilization and best energy management among all refineries in India. ONGC continuously led all Indian companies in Market Capitalization, Net Profits, Net Worth and Dividend pay-out, ranking at the top of all Indian companies in Forbes 2000 and Fortune Global 100 (by profit) listings. ONGC's creditworthiness, in Dollar market, was rated two levels above the sovereign rating, the highest ever achieved by any Indian company. |
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Before taking charge at ONGC, Mr. Raha had grown from Management Trainee (April 1970) to Director (HR) of Indian Oil Corporation Ltd. (IOCL) with concurrent responsibilities for Information Technology and Corporate Communications; he also managed the portfolios of Director (Business Development) and Director (Marketing). In between, he went on secondment to the Ministry of Petroleum & Natural Gas (August 1996-June 1998) as Executive Director "� Head, Oil Coordination Committee. |
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As Vice Chairman, HGIL, Mr. Raha will provide direction & guidance for the Hinduja Group (HG) businesses in India with the objectives of unlocking value and achieving growth through organic as well as mergers & acquisitions. The Group's current domain of diversified activities in India consists primarily of automotive, financial services, ITES, media & entertainment and infrastructure project development. The Group has also finalised plans for entering the power, real estate, healthcare and insurance sectors. As Chairman, HNPCL, he will manage HG's thermal, hydro, and wind-power projects as well as bio-fuel initiatives in India. He will be a key member of the HG leadership team engaged in global opportunities in the energy sector and advise HG's overseas businesses on organizational and growth strategies. |
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Mr Raha who is already on the board of Ashok Leyland Ltd, the flagship of the Hinduja Group in India as a non-executive director will continue some of his current external board appointments as a non-executive director. |
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Speaking on the appointment of Mr. Raha, The Group Chairman Mr. S.P .Hinduja said "We welcome Subir on board. His unparalleled knowledge and leadership abilities coupled with his proven commitment to growth strategies, global collaboration and corporate governance will be important assets for the Hinduja Group." |
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Speaking on his appointment Mr. Raha said" After of three and half decades in India's Public Sector and a year's sabbatical, I am looking forward to an exciting opportunity with the Hinduja Group in the globalized Indian private sector." |
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About the Hinduja Group: Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across manufacturing, services and banking sectors. The Group, founded by Shri P.D. Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare. |
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To know more about the Hinduja Group and the Group Companies, please visit www.hindujagroup.com. |
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