Stock Report

Brigade announces elevation of Top Management

Posted On : 2022-10-11 19:30:02( TIMEZONE : IST )

As part of the company's systematic succession planning, the Board of Directors of Brigade Enterprises Limited has considered and approved the appointment of Ms. Pavitra Shankar, who is presently Executive Director as Managing Director of the Company for a period of five years with effect from 12th October 2022. The board in addition approved the appointment of Ms. Nirupa Shankar who is presently an Executive Director as Joint Managing Director for a period of five years effective 12th October 2022. This will be subject to shareholder approval.

As part of global best practices and good corporate governance, the Board of Directors also considered and approved the appointment of Mr. Aroon Raman, Independent Director, as nonexecutive Vice Chairman for the period 11th October 2022 to 4th August 2024. Mr. M R Jaishankar will continue in his role as a Wholetime Director and Executive Chairman and will mentor the next generation leaders in their new roles.

Additionally, Mr. Amar Mysore is reappointed as Wholetime Director designated Executive Director for a further period of five years with effect from 16th May 2023 till 15th May 2028. To further strengthen the Board, the appointment of Mr. Velloor Venkatakrishnan Ranganathan was announced as an Additional Director in the category of Non-Executive Independent Director of the Company for a period of five years from 11th October 2022 to 10th October 2027.

Commenting on the development, M R Jaishankar, Executive Chairman, Brigade Enterprises Limited, said, "The internal elevation of both Pavitra and Nirupa is in keeping with our overall strategy and well-thought-out succession planning process. Both have played lead roles in the expansion and growth story of Brigade. Both have future-oriented thinking, clear vision, passion for advanced technologies & sustainable growth and hold the Brigade Core Values as a guiding force. I am confident that under their leadership, Brigade will continue to rise to even greater heights."

Ms. Pavitra Shankar

Ms. Pavitra Shankar has over 18 years of experience in consulting, private equity and real estate development. At Brigade, she is responsible for Brigade's residential business strategy and growth, with a strong focus on customer experience and data analytics. Pavitra is also spearheading the digital transformation of the company.

Before she joined Brigade, Pavitra founded and ran Legion Real Estate in Menlo Park, California, which provided business development and real estate marketing consultancy to Indian developers targeting the NRI market in North America. Prior to that Pavitra was responsible for portfolio analytics and fund operations at Rockwood Capital LLC in San Francisco, a real estate private equity firm with over $8 billion in assets under management through commingled funds and separate accounts. She was also with Willis Towers Watson, a human capital consulting firm, in their Actuarial Consulting and Corporate Finance teams. Pavitra holds a Bachelor's degree in Economics and Mathematics from the University of Virginia and a Master's in Business Administration in Real Estate and Finance from Columbia Business School, where she received the prestigious Alexander Bodini Real Estate Fellowship.

Pavitra is a Trustee of the Indian Music Experience, Bangalore, a monumental and philanthropic initiative by Brigade that is India's only hi-tech interactive music museum. She is also a Trustee of The Brigade Foundation, the not-for-profit trust of the Brigade Group. She is an industry thought leader and is carving a niche for herself as one of the few female leaders in the construction and real estate industry. She was recently named amongst the 40 under 40 icons by Realty Plus.

Ms. Nirupa Shankar

Ms. Nirupa Shankar has over 16 years of experience and has been with Brigade since 2009, overseeing the company's hospitality, office and retail portfolios. She also leads Public Relations (PR) and Innovation functions, and is a Trustee of the Brigade Foundation, the not-for-profit trust of the Brigade Group. Nirupa set up Asia's first real estate accelerator called Brigade Real Estate Accelerator Program (Brigade REAP) an initiative to mentor high-tech start-ups in real estate in 2016.

She had previously worked as a Senior Business Analyst with Ernst & Young LLP in New York, Washington DC, and North Carolina. Nirupa Shankar has a Bachelor's degree in Economics from the University of Virginia and a Master's degree in Management of Hospitality from Cornell University.

Nirupa Shankar was in the elite Economic Times 40 Under 40 2021 list of corporate India's future leaders and she has been recognised for her contribution in Real Estate and Proptech at the BW Disrupt Women Entrepreneurship Awards 2021. She has also won the "Woman CXO of the Year" at the 9th Realty Plus Conclave & Excellence Award 2017. Nirupa has successfully conceptualised multiple award-winning F&B outlets such as HIGH Ultra Lounge and Glass Kitchen & Bar in Bangalore. She has also conceptualised and launched Buzzworks, Brigade's Co-working brand. Nirupa is a two-time TEDx speaker and a regular speaker at various top tier forums, conferences and think tanks. She is also a trained Six Sigma Black Belt and a triathlete.

Mr. Velloor Venkatakrishnan Ranganathan

Mr. Velloor Venkatakrishnan Ranganathan is a finance professional with over 40 years of variegated experience in India and overseas. He is currently a member of The International Council for Commercial Arbitration based in The Hauge, Netherlands. Mr. Ranganathan was a Senior Partner with one of the big four global firms. He is currently an independent director and Chairman of the Audit Committee and Nomination & Remuneration Committee of HIL Limited, a listed company with over twenty manufacturing facilities across India, Germany, and Austria.

Mr. Ranganathan is a Member of the Governing Board of Bharti Foundation (Airtel) a professionally managed not-for-profit enterprise that runs hundreds of schools in rural India as well provide support to the over forty Army Goodwill Schools which are managed by the Indian Army.