RIL expands board; inducts Prasad, Ravimohan as exec director | business | Hindustan Times
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RIL expands board; inducts Prasad, Ravimohan as exec director

business Updated: Aug 21, 2009 20:11 IST
Reliance Industries

Reliance Industries on Friday inducted its senior executive PMS Prasad and credit rating agency Crisil's former chairman R Ravimohan on its board as executive directors.

The board of directors of the company have approved the appointment of Ravimohan and Prasad as executive director on the board with immediate effect, the company said in a statement to the Bombay Stock Exchange.

With the appointments, the RIL board will expand to 14 with seven members being independent directors, it added.

Prasad, a leading energy industry professional, has been with RIL for over 28 years and heads the upstream and refining businesses. He was also the project head of the Jamnagar refinery and petrochemical complex.

While, R Ravimohan is the former chairman of Crisil and managing director and region head of Standard and Poor's for South & South East Asia. He has been closely involved with the modernisation of Indian financial system and pioneered the era of electronic stock markets in the country, the filing said.

"Ravi is undoubtedly one of the finest financial and risk management minds in the world, while Prasad has been an integral part of the growth story of RIL and its achievements. I look forward to the contributions of these two talented professionals to take Reliance forward on an accelerated growth path," RIL chairman and MD Mukesh Ambani said.