Ravi Rajagopal appointed Fortis chairman amid flurry of exits, bidding war

Fortis Healthcare on Friday said it has appointed Ravi Rajagopal as the chairman of the company's board with immediate effect.

Rajagopal (63), a chartered accountant, is currently a non-executive independent director on the Fortis board.

"The Board of Directors today, by circulation, appointed Ravi Rajagopal, non-executive independent director as the chairman of the board with immediate effect," Fortis Healthcare said in a regulatory filing.

Rajagopal in his 35 years long career has worked in various entities like ITC, Ranbaxy Laboratories and Diageo.

He currently serves as Chairman for JM Financial Services Singapore, as well as an independent director and chairman of the audit committee for Vedanta Resources Plc.

Besides, he is a Senior Advisor to Joseph Hage Aaronson, a London-based litigation and arbitration law firm and Advisor to Good Relations India, which advises UK businesses on market entry and positioning strategies in India.

Earlier this week, cash-strapped Fortis Healthcare initiated a fresh time-bound bidding process for its sale after terminating the offer made by the Munjal-Burman combine.