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Housing Development Finance Corporation has announced that Deepak S. Parekh, chairman and chief executive officer of the corporation, after 31 years of service of which 16 years were as chairman, has decided to step down from his executive position with effect from the close of business hours on 31 December 2009. Parekh has been appointed as an additional director of the corporation with effect from 01 January 2010 and shall hold office as such up to the date of the next annual general meeting of the corporation pursuant to the provisions of Section 260 of the Companies Act, 1956. However, he will continue to be the chairman of the corporation.
Keki M Mistry, currently the vice chairman & managing director will be re-designated as the vice chairman and chief executive officer of the corporation with effect from 01 January 2010.
Renu Sud Karnad, currently the joint managing director has been appointed as the managing director of the corporation for a period of 5 years, with effect from 01 January 2010, subject to the approval of the shareholders at the ensuing AGM.
V. Srinivasa Rangan, senior general manager & chief treasurer has been appointed as the executive director of the corporation for a period of 5 years, with effect from 01 January 2010, subject to the approval of the shareholders at the ensuing AGM.
The Corporation has made this announcement on 04 December 2009.
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