Tata Motors Limited announced the appointment of Usha Sangwan as an Additional Director and Independent Director on the company’s Board, with effect from May 15, 2023.
According to the company’s exchange filing, “we hereby inform you that the Board of Directors at its meeting held today, i.e., on March 20, 2023, based on the recommendation of the Nomination and Remuneration Committee, has decided to appoint Mrs. Usha Sangwan (DIN: 02609263) as an Additional Director and Independent Director of Tata Motors Limited (‘the Company’) for a tenure of 5 years, from May 15, 2023 to May 14, 2028 (both days inclusive), subject to approval of the shareholders of the Company.”
Usha Sangwan was the first ever woman Managing Director of LIC of India, largest life insurer in the world in terms of number of customers. Sangwan is post graduate in Economics, PG Diploma holder in Human Resource Management and Licentiate from Insurance Institute of India. Sangwan had joined LIC of India in 1981 as a Direct Recruit Officer and handled various important positions during her 37 years of stint in LIC, finally reaching the top position of Managing Director (2013-2018).
She was also a Board member of various national and international companies. Prominent among them being Axis Bank, Bombay Stock Exchange, LIC Housing finance , LIC Cards, Grasim Industries, Ambuja Cements, Ultratech Cement, GIC-RE, Voltas, LIC International Bahrain, Singapore, Nepal and Sri Lanka.
Presently she is independent director on the Board of Torrent Power, Trident Ltd, SBI Life, Axis Pension Fund and Tata Technologies Ltd. She is also a member of Financial Services Institutions Bureau of Government of India constituted for selection of Chairmen and MDs of Public Sector Financial Institutions.
She has been featured in Forbes magazine amongst top 50 business women of Asia. She has also been awarded Most powerful business woman Award by Business Today and Business World for three years consecutively. She was featured in Femina and on the cover page of Bureaucracy. She was honoured by 92.7 Big FM, Colour TV, Dun & Bradstreet and Loksatta among others. She has won many more accolades and awards.
She is a member of BCCI Diversity & Inclusion Committee and a chartered member of Equalify (exAssociation of International Wealth Managers of India). She was also a jury member to select Women Transforming India by Niti Ayog, Jury member to select top 100 Women in Finance by AIWMI and Jury to select best CFOs 2021 in various categories by Business World.
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