Kalyan Jewelers appoints former CAG Vinod Rai as Chairman
Kalyan Jewelers India Ltd appointed former CAG Vinod Rai as its Chairman and independent non-executive director. As the chairman of Kalyan Jewelers, Vinod Rai’s appointment is set to make him the eighth non-executive director on the board.
Vinod Rai was the former Comptroller and Auditor General of India (CAG). Rai was also the former chair of the United Nations Panel of External Auditors. He has held various positions within the Indian government as well as in state governments and has been instrumental in a wide variety of reforms in India, including as chairman of the Banks Board Bureau.
The appointment will be subject to regulatory and shareholders’ approvals, the company said in a stock exchange filing.T S Kalyanaraman will continue as Managing Director on the company’s board.
“We are delighted to welcome Mr. Vinod Rai to Kalyan Jewellers as an Independent Chairman of our board. Kalyan Jewellers has always been committed to trust, transparency and upholding the highest standards of corporate governance, and this event is a natural step in the evolution of our company along that journey.”
Kalyan Jewellers MD TS Kalyanaraman said
As a recognition of his services, Vinod Rai was awarded the Padma Bhushan, India’s third highest civilian award in 2016. He holds masters degrees in Economics as well as Public Administration from Delhi School of Economics, University of Delhi and the Harvard Kennedy School, Harvard University, USA, respectively.
