CreditAccess Grameen Ltd. appoints Mr. George Joseph as Vice-Chairman and Lead Independent Director

CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770), the country's leading microfinance institution, has announced the appointment of Mr. George Joseph, Independent Director, as Vice-Chairman and Lead Independent Director of the Company. Mr. Joseph will be taking the charge effective February 11, 2021.

As Vice-Chairman and Lead Independent Director, his responsibilities will include supporting the Chairman of Board of Directors in facilitating policy & strategic decision making by the Board, Independent Directors as well as coordination between management and Independent directors. He will also assist in maintaining good corporate governance practices, ensuring transparency and adherence with corporate ethics apart from strategic guidance in achieving long-term vision and objectives of the organisation.

Mr. George Joseph has more than 40 years of relevant experience and has held various senior positions in Banking and other fields. He retired as Chairman and Managing Director of Syndicate Bank. He was associated with Canara Bank for a period of over 36 years. Currently, he is on the Boards of Wonderla Holidays Limited and Madura Micro Finance Limited.

Speaking on the appointment, Mr. Paolo Brichetti, Chairman and Nominee Director said, "I want to take this opportunity to welcome Mr. George Joseph onboard. With his deep knowledge, expertise, and experience in finance space, he will support us in a wide range of business initiatives and external engagement, in areas including business development, client services, public advocacy and client relationship management."

Mr. Udaya Kumar, Managing Director & Chief Executive Officer said, "I am extremely happy to be working with Mr. Joseph. He was the unanimous and obvious choice as a Vice-Chairman and Lead Independent Director since his strategic thinking and experience is aligned with our corporate mission in various ways. Looking forward to his able support and guidance in achieving our goals."

Commenting on the new role, Mr. George Joseph said, "I am very pleased to be associated with CreditAccess Grameen Limited and thank them for providing this opportunity. With the company's history of enabling widespread economic and social change with their diverse financial products and development services, my role will be very exciting alongside my fellow Board members and management team."

Shares of CreditAccess Grameen Ltd was last trading in BSE at Rs.721 as compared to the previous close of Rs. 710.6. The total number of shares traded during the day was 8160 in over 901 trades.

The stock hit an intraday high of Rs. 725 and intraday low of 701.25. The net turnover during the day was Rs. 5814048.

Source : Equity Bulls

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