HDFC Life appoints Vibha Padalkar as MD and CEO

Padalkar will be in charge of the position for three years starting September 12, 2018.

HDFC Life, has appointed Vibha Padalkar as its new managing director and chief executive officer for a period of three years effective September 12, 2018, in a board meeting held recently.

Commenting on her appointment, Padalkar, says in a press release, “I am delighted with the opportunity given to me to lead the HDFC Life team. I thank the board of directors for having placed their trust in me. It will be my constant endeavour to continue expanding the reach of life insurance and deepen the trust bestowed upon us by customers, partners, shareholders and other stakeholders. We have a strong team in place that has delivered over the years to make HDFC Life an industry leader and we hope to continue with this track record, delivering more value as we go along.”

Vibha Padalkar

Padalkar joined HDFC Life in August 2008. She is qualified as a member of the Institute of Chartered Accountants of England and Wales in 1992. She is also a member of the Institute of Chartered Accountants of India. Previously, she has worked in varied sectors such as global business process outsourcing, global FMCG and in an international audit firm.

Padalkar has been leading the finance, investor relations, legal, secretarial and compliance, internal audit and risk functions. She was recently honoured with the ‘CA CFO – Insurance Sector’ award by the Institute of Chartered Accountants of India and by Business Today for the second consecutive year, as one of the ‘Top 30 most Powerful Women in Business’. She was also conferred the ‘CFO-Woman of the year’ award by the Institute of Chartered Accountants of India in 2011 and for 'Excellence in Financial Control, Compliance and Corporate Governance' by IMA, India in 2013.

The board of directors have also appointed Suresh Badami as a whole-time director of the company for a period of three years, commencing from September 17, 2018.

The decisions were taken by the board based on the recommendation of the nomination and remuneration committee. The terms of appointment, are subject to approval by the shareholders and the Insurance Regulatory and Development Authority of India.

Deepak Parekh, chairman, HDFC Life, says in a press release, “I am happy to welcome Vibha Padalkar in her new role as the MD & CEO of HDFC Life. We have witnessed HDFC Life grow from strength to strength, since its inception in 2000. I am convinced that Padalkar and the team will drive the organization to greater success and add value to our business as we cross many more milestones. I also take this opportunity to thank Amitabh Chaudhry for his leadership and vision. I wish him the very best in his new role.”