The Board of Directors of HDFC Asset Management Company Ltd at its meeting held on June 11, 2020, based on the recommendation of the Nomination & Remuneration Committee, has re-appointed Mr. Milind Barve as Managing Director of the Company, not liable to retire by rotation, for a further period effective from November 1, 2020 upto January 31, 2021, subject to the approval of the members at the ensuing Annual General Meeting.
Mr. Barve had expressed his desire to not seek an extension of his current term as Managing Director which expires on October 31, 2020, as he will be turning 63 this year. However, in order to provide adequate time to the Company for identifying a successor in accordance with the succession planning process and to ensure continuity and smooth functioning of the business of the Company, Mr. Barve has agreed to an extension of 3 months as the Managing Director of the Company effective from November 1, 2020 to January 31,2021.
