TeamLease Services Limited announced the appointment of Narayan Ramachandran as the new Chairman (Non-Executive) of the Company. Ramachandran is currently the Lead Independent Director and has been on the Board of the Company since 2015. Manish Sabharwal, the Executive Chairman of the Company has transitioned to the role of Executive Vice Chairman. The Company has also inducted Meenakshi Nevatia, Mekin Maheshwari and S. Subramaniam as new Independent Directors on the Board. Ramani Dathi has also been re-designated as the Chief Financial Officer of the company.
Commenting on his appointment as Chairman (Non-Executive), Narayan Ramachandran said “My association with the TeamLease Board began before the company’s IPO and it is an honour to assume this new role. Corporate India has been reconfiguring its people supply chains for years, but this revolution has been accelerated by COVID. TeamLease has a central role to play in this transformation and has demonstrated a willingness to take the long view. I look forward to working with my colleagues to accelerate this strategy.”
Commenting on the Board reconstitution, Manish Sabharwal, Executive Vice Chairman said “This year we complete 20 years as a company and five years of being listed. It feels like a good time to start preparing for the next 20 years. The expansion of addressable markets, sustained growth rates and prudent governance are key pillars of our execution, strategy and today’s changes strengthen our abilities of Putting India to Work”
The addition of three new Independent Directors will take the size of the Board to nine members and the number of Independent Board members to seven; Meenakshi Nevatia, Mekin Maheshwari, and S. Subramaniam, have joined Latika Pradhan, Narayan Ramachandran, Dr. V Raghunathan, and Zarir Batliwala.
The Board currently has two executive directors: Ashok Reddy (Managing Director) and Manish Sabharwal (Executive Vice Chairman). This expansion of Board numbers and diversity of experience strengthens the Board’s ability to guide the company’s growth, strategy and investments. All appointments /transitions are with immediate effect.
TeamLease Services is an HR services company offering a range of solutions to 3500+ employers for their hiring, productivity and scale challenges. The company has hired 18 lakhs+ people over the last 19 years. It offers solutions to large, medium and small clients across the 3Es of employment (over 1.7 lakhs employees), employability (over 2 lakhs students) and Ease-of-doing Business (over 1000 employers).
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