The board of HDFC Life has announced Vibha Padalkar as its new Managing Director and CEO for a period of three years effective from today. She was earlier serving as the firm’s Executive Director and Chief Financial Officer. This comes after the resignation of current CEO Amitabh Chaudhry on September 8 to join Axis Bank as MD and CEO.
“I am delighted with the opportunity given to me to lead the HDFC Life team. I thank the Board of Directors for having placed their trust in me. It will be my constant endeavor to continue expanding the reach of life insurance and deepen the trust bestowed upon us by customers, partners, shareholders, and other stakeholders,” said Vibha Padalkar on her appointment.
“We have a strong team in place that has delivered over the years to make HDFC Life an industry leader and we hope to continue with this track record, delivering more value as we go along,” she added.
Vibha Padalkar joined HDFC Life in August 2008. She is qualified as a member of the Institute of Chartered Accountants of England and Wales in 1992. She is also a member of the Institute of Chartered Accountants of India.
Earlier, Vibha was conferred the ‘CFO-Woman of the year’ award by the Institute of Chartered Accountants of India in 2011 and for “Excellence in Financial Control, Compliance and Corporate Governance” by IMA, India in 2013.
The Board of Directors in a meeting held today also appointed Suresh Badami as a Whole-time Director of the Company for a period of 3 years, commencing from September 17, 2018.
“I am happy to welcome Vibha Padalkar in her new role as the MD & CEO of HDFC Life. We have witnessed HDFC Life grow from strength to strength, since its inception in 2000,” said chairman HDFC Life, Deepak Parekh.
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