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| RIL expands board; appoints two additional executive directors |
| Announcement / Corporate Aug 21, 2009, 18:47 IST |
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The Board of Directors of Reliance Industries announced the appointment of R. Ravimohan and P.M.S. Prasad as Executive Directors on the Board with immediate effect. With this, the Board will expand to 14 members with 7 members on the Board being Independent Directors.
Commenting on the development Mr. Mukesh Ambani, Chairman & Managing Director, Reliance Industries Ltd said, “Ravi is undoubtedly one of the finest financial and risk management minds in the world while Prasad has been an integral part of the growth story of Reliance and its achievements. I look forward to the contributions of these two talented professionals to take Reliance forward on an accelerated growth path.”
R. Ravimohan is the former Chairman of CRISIL Ltd and the Managing Director and Region Head of Standard & Poor's for South & South East Asia. He is credited with building CRISIL into the largest rating, financial and business research and advisory service company in India. Ravimohan has been closely involved with the modernization of Indian financial system and pioneered the era of electronic stock markets in the country. He has been involved in critical policy assignments including being a member of the Secondary Market Advisory Committee of SEBI, Technical Advisory Committee of Reserve Bank of India and Raghuram Rajan Committee on Financial Sector Reforms.
Recognised as one of the finest professionals in the energy industry, Mr. Prasad has been with Reliance Industries for over 28 years. Presently, he heads the upstream and refining businesses, which comprises of exploration and production and refinery Supply and Trading. Over the years, he has held various positions in the fibres, petrochemicals and petroleum businesses in Reliance Industries. He was also the project head of the large Jamnagar refinery and petrochemicals complex. He was recently awarded a honorary doctorate degree the University of Petroleum Engineering Studies, Dehra Dun.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of Rs. 1,50,771 crore (US$ 29.7 billion), cash profit of Rs. 21,566 crore (US$ 4.3 billion), and net profit (excluding exceptional income) of Rs. 15,607 crore (US$ 3.1 billion) as of March 31, 2009.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 103rd amongst the world's Top 200 companies in terms of profits. RIL is amongst the 30 fastest climbers ranked by Fortune. RIL features in the Forbes Global list of the world's 400 best big companies and in the FT Global 500 list of the world's largest companies. RIL ranks amongst the 'Worlds 25 Most Innovative Companies' as per a list compiled by the US financial publication-Business Week in collaboration with the Boston Consulting Group.
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