IDFC Bank CFO Sunil Kakar appointed MD & CEO of IDFC Ltd, replaces Limaye

Prior to joining IDFC, Kakar worked with Max New York Life Insurance Company since 2001 as CFO

IDFC Bank CFO Sunil Kakar has been elevated to the post of  Managing Director and Chief Executive Officer of parent company IDFC with effect from July 
17 for three years.

Kakar has also been appointed as additional director. Both the appointments are subject to shareholders' approval at the annual general meeting (AGM).

Kakar replaces Vikram Limaye who is set to join leading stock exchange NSE as its new Managing Director and CEO.

The Board of Directors has approved appointment of Sunil Kakar as the Managing Director and CEO of the company for 3 years with effect from July 17, 2017, IDFC bank said in a regulatory filing.

It further said the Board has accepted the resignation of Vikram Limaye as Managing Director and CEO of the company with effect from July 15.

Kakar joined IDFC as the Group Chief Financial Officer and was responsible for finance and accounts, business planning and budgeting and investor relations, among others.

Prior to joining IDFC, he had worked with Max New York Life Insurance Company since 2001 as CFO. He has also worked with Bank of America for 18 years in various roles.

Vikram Limaye will quit the Committee of Administrators (COA) for BCCI on July 14 when the Supreme Court reopens, to take over as the Managing Director and CEO of National Stock Exchange (NSE).