HDFC re-appoints Deepak Parekh as managing director

Housing Development Finance Corporation (HDFC) today said it has re-appointed Deepak S Parekh as the managing director of the company with effect from March this year.

In a filing to the Bombay Stock Exchange, HDFC said its board of directors have re-appointed Parekh as the managing director of the company with effect from March 1 to December 31, 2009.

The appointment would be subjected to shareholders approval at the ensuing Annual General Meeting.

Parekh, a fellow at the Institute of Chartered Accountants (England & Wales), joined the corporation in a senior management position in 1978.

He was inducted as a whole-time director of the corporation in 1985 and was appointed chairman in 1993. He is the chief executive officer of the corporation.

Meanwhile, Parekh was also appointed on the board of crisis-ridden Satyam Computer Services. In January this year, the government appointed the noted banker to Satyam's board.