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Madhu Kannan quits BSE to join Tata Sons

Press Trust of India  |  New Delhi 

today said it has appointed Madhu Kannan, currently managing director of the Bombay Stock Exchange (BSE), to head Tata Group's business development.

"[38] will soon join as Group Head -- Business Development reporting to the Deputy Chairman, Cyrus P Mistry," said in a statement.

In a separate statement, said: "Kannan has expressed his intention not to seek a new term at the expiry of his current term ending May 2012, to pursue another opportunity."

He will work with the board to ensure that there is a seamless succession process, added.

Kannan joined the from Bank of America - Merrill Lynch where he was a managing director in the corporate strategy group.

Prior to Bank of America-Merrill Lynch, Kannan was senior vice president at NYSE Euronext.

During his stint at NYSE Euronext, he served in various roles including vice president, corporate client group, head of international listings (Asia Pacific region), and managing director, international strategy and business development of the exchange.

Kannan is an alumnus of BITS, Pilani and an MBA from Vanderbilt University, USA.

First Published: Tue, April 03 2012. 19:00 IST