HDFC Life Insurance Company announced the resignation of Stephanie Bruce (DIN: 08594969), Non-executive Nominee Director of the Company with effect from 13 January 2021. With this, Rushad Abadan (DIN: 08035538), Alternate Director to Stephanie Bruce also ceased to be Alternate Director of the Company with immediate effect.
Consequent to the recent stake sale by Standard Life, their shareholding in the Company has reduced below 10%, and thus they cease to have the right to nominate a Director on the Board of the Company. In view of the above, and in accordance with the applicable provisions of the AoA of the Company, Standard Life has withdrawn the nomination of Stephanie Bruce from the Board of HDFC Life.
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