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KV Kamath Appointed Independent Director of Reliance Industries, Jio Financial Services

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The Board of Directors of Reliance Industries Ltd (RIL), at its Friday meeting, based on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to shareholders for approval, the appointment of KV Kamath like a Independent Director of the Company for a term of five consecutive years from the date of appointment.



The Board of Directors also approved the letter by post in this regard.

In addition, Reliance Strategic Investments Ltd (RSIL), a wholly owned subsidiary of the company, has appointed Kamath as an independent director and non-executive chairman. As indicated earlier, RSIL will be renamed Jio Financial Services Ltd (JFSL) and listed under a Board-approved division scheme for the division of the Company’s financial services into RSIL.

Kamath will continue as an independent director and non-executive chairman of JFSL upon completion of JFSL’s settlement and stock exchange listing.

Currently, Kamath is chairman of the National Bank for Financing of Infrastructure and Development (NaBFID), chairman of Infosys. In 2015, he was appointed as the first president of the New Development Bank, established by the BRICS countries from which he retired in 2020.

Under his supervision, ICICI bank transformed itself into a diversified, technology-driven, banking, insurance and wealth management financial services group in India, with a global presence. He retired as general manager and CEO in 2009 and remained chairman of ICICI Bank until 2015.

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