Fortis Healthcare appoints Leo Puri as new Chairman its Board of Directors

Fortis Healthcare Ltd on Friday announced the appointment of Leo Puri as the Chairman of its Board of Directors.

Puri, who is an independent and non-executive director assumes the role with effect from December 27, 2024, Fortis Healthcare Ltd said in a regulatory filing.

He will play a crucial role in guiding Fortis Healthcare's strategic direction and operations at a group level, steering the organisation towards innovation, growth, and industry leadership, it added.  The company stated that based on the recommendation of the nomination and remuneration committee, the board has approved the appointment of Leo Puri, as an additional independent director, and have also designated as the chairman of the board.  The term of his appointment as an independent director will be for a period of 5 years and the appointment is subject to the approval of shareholders.

At present, Puri serves on the boards of industry-leading organisations, including Tata Sons, Hindustan Unilever, and Dr. Reddy's Laboratories, further demonstrating his extensive expertise and strategic insight across diverse sectors.

An accomplished leader and financial sector veteran with over four decades of experience, Puri has held several high-impact leadership roles in prominent global and Indian organisations, the company said.

His previous roles include Executive Chairman for South & Southeast Asia at JP Morgan Chase, Senior Partner at McKinsey & Company, Managing Director at UTI Asset Management Company, Managing Director and General Partner at Warburg Pincus and held several board positions too, it added.  Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates 28 healthcare facilities (including JVs and O&M facilities). The company's network comprises approximately 4,700 operational beds.  Fortis Healthcare added 1.12% to Rs 679.45 after the company's board approved the appointment of Leo Puri as the chairman of the board with effect from today 27 December 2024.

The company reported a 4.99% gain in consolidated net profit to Rs 193.08 crore on 12.34% jump in revenue from operations to Rs 1,988.39 crore in Q2 FY25 over Q2 FY24.

The company further added that Indrajit Banerjee, who was appointed as the chairman for the interim period, with effect from 1 October 2024, has passed on his position to Puri and will continue being a member of the board along with other committee memberships in the company.