ICRA MD & CEO N Sivaraman resigns

In a surprise development, N Sivaraman, managing director and group Chief Executive, of rating agency ICRA has resigned with immediate effect citing personal reasons. He joined ICRA in July 2020.

Ramnath Krishnan has been appointed as new MD and group CEO, the rating agency said in a statement. ICRA is an unit of global rating agency Moody's.

Earlier, Krishan was President - ratings and chief ratings officer at ICRA. He joined the rating agency in July 2020 from RBL Bank where was Chief Risk Officer since 2018.

Sivaraman came to ICRA after a stint with IL&FS where he was Chief Operating Officer with responsibilities for asset monetisation and creditor engagement and loan restructuring.

“We are delighted to benefit from Mr. Krishnan’s deep knowledge of risk, credit and markets as we welcome him to his new role. We are confident his long experience, together with the strong leadership qualities he has demonstrated since joining the company will help him lead ICRA into its next phase of growth,” said Arun Duggal, Non-Executive Chairman and an Independent Director of ICRA.

“ICRA is a key player in the Indian capital markets and a leader in credit analytics in India. I am thrilled to work with all our stakeholders as we chart out what promises to be an exciting and robust phase of growth for the company,” said Krishnan.