Tata Sons, the holding company of the $103.27 billion Tata Group, on Wednesday said it has appointed Farida Khambata, former member of IFC management group, and Ronen Sen, former ambassador of India to the United States, as non-executive independent directors.
In a statement, Tata Sons said Khambata is currently working as the global strategist of Cartica, an alternative asset manager focused on emerging markets.
Prior to Cartica, Khambata had served as part of the senior leadership team at IFC, one of the largest global development institutions, where she was responsible for East Asia, Pacific, South Asia, Latin America and the Caribbean and the global manufacturing cluster.
At IFC, Khambata looked after strategy, investment operations and advisory services in all member countries in these regions which account for about three-quarters of all IFC's investments. She also oversaw all equity investments globally and investments specifically in agribusiness, manufacturing and services and health and education.
Khambata is also an additional director on board Kotak Mahindra Bank.
Elaborating on Sen's experience, Tata Sons said he served as India's ambassador to the United States from 2004 to 2009 and was also the ambassador to Mexico in 1991-92. An experienced diplomat, Sen also served as foreign and defence policy advisor to successive prime ministers from 1986 to 1991.
{{/usCountry}}Elaborating on Sen's experience, Tata Sons said he served as India's ambassador to the United States from 2004 to 2009 and was also the ambassador to Mexico in 1991-92. An experienced diplomat, Sen also served as foreign and defence policy advisor to successive prime ministers from 1986 to 1991.
{{/usCountry}}Sen had earlier served on the board of Tata Motors as a non-executive independent director from 2010 to 2012.
Since October 1, 2014 capital markets regulator Sebi has mandated that the board of directors of all listed companies shall have an optimum combination of executive and non-executive directors with at least one woman director and not less than 50% of the board comprising non-executive directors.