TeamLease announces expansion in Board of Directors

TeamLease Services Limited (TeamLease/Company (NSE: TEAMLEASE, BSE: 539658), today announced the appointment of Ms. Rituparna Chakraborty as an Executive Director of the Company with immediate effect subject to approval of Shareholders at ensuing Annual General Meeting. The addition of new Executive Director will take the size of the Board to ten members with three Executive Directors and seven Independent Board Members.

COVID made FY 22 challenging even though it was a milestone year; TeamLease started twenty years ago and listed six years ago. We used the year to reflect about our principles, goals, strategy and structure for the next twenty years. Essentially, an exercise to convert future hindsight into current foresight in our mission of Putting India to Work. The first outcome of this exercise was a Board revamp last year. In extension to that, effective today Ms. Rituparna Chakraborty will be joining the Board as an Executive Director.

Commenting on the new appointment, Mr. Ashok Reddy, Managing Director of TeamLease Services Limited said, "TeamLease has a unique opportunity to innovate the intersection of education, employment and employability by breaking down current barriers between demand and supply. As a co-Founder Rituparna has built TeamLease's largest business; staffing has over Rs 5000+ crore in revenue. Given her strong understanding of the employability and employment intersection and abilities in scaling, sales, and policy advocacy, Rituparna can be a great asset to the Board of TeamLease."

Brief Profile of Ms. Rituparna Chakraborty

Ms. Rituparna Chakraborty is an accomplished business leader with multi-faceted experience, passion for excellence, and a proven ability to drive growth at scale. She has business experience of 23 years and as CoFounder of TeamLease she has been instrumental in making TeamLease India's largest people supply chain company. She is the only person from Asia to be included in the Global Power 100 and International 50 Woman in Staffing and is the winner of the Telstra Business Woman in Asia Award. She has also won the Femina Super Achievers Award 2018. She was conferred the distinguished alumnus award at the 10th Indian Management Conclave, 2019 as a GIM Batch of 99 Alumnus. She is also an AMP Alumnus of Columbia Business School batch of 2022.

Besides scaling the staffing business to over INR 5000 crore business since its inception she has played an active role in driving various public policy changes - the four labour codes being one of the primary ones. She continues to be involved in forums like CII, FICCI, ILO, ISF within India and internationally to give a voice to important issues in the area of employment & employability.

Rituparna is an eternal people optimist and a salesperson at heart who enjoys interacting with people and building lasting relationships. She is driven by TeamLease's vision of 'Putting India to Work' and providing the youth of the country a job of dignity is at the heart of what she aspires for. She always says, "Not sure whether we can solve all of India's job problems, but we shall die trying."

Shares of Teamlease Services Limited was last trading in BSE at Rs. 3410.45 as compared to the previous close of Rs. 3484.55. The total number of shares traded during the day was 2071 in over 1215 trades.

The stock hit an intraday high of Rs. 3594.65 and intraday low of 3361.05. The net turnover during the day was Rs. 7227351.00.

Source : Equity Bulls

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TeamleaseServices INE985S01024 Appointment ExecutiveDirector