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Uday Kotak appointed as CII President; to replace Vikram Kirloskar

Uday Kotak, who was also the President-Designate of CII for the last two years, will replace Vikram Kirloskar, Chairman and MD of Kirloskar Systems

twitter-logoBusinessToday.In | June 3, 2020 | Updated 16:12 IST
Uday Kotak appointed as CII President; to replace Vikram Kirloskar
CII has appointed Uday Kotak, Founder and Managing Director & CEO of Kotak Mahindra Bank, as the new President for 2020-21

Veteran banker Uday Kotak has been appointed as the new President of the Confederation of Indian Industry (CII) for 2020-21, the chamber said on Wednesday. Uday, who was also the President-Designate of CII for the last two years, will replace Vikram Kirloskar, Chairman and Managing Director of Kirloskar Systems Ltd, and Vice Chairman of Toyota Kirloskar Motor.

Besides, T V Narendran, CEO and Managing Director of Tata Steel, has been appointed as the President Designate of CII for 2020-21. Among others, Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, has been named as the Vice President of the apex industry body.

Founder and Managing Director & CEO of Kotak Mahindra Bank, Uday Kotak has been associated with the CII for over two decades. The consolidated net worth of Kotak is over Rs 74,000 crore and Kotak Mahindra Group has over 71,000 employees.

In April, Kotak Mahindra Bank announced that Uday Kotak will take a notional salary of only Re 1 for the financial year 2020-21, amid COVID-19 pandemic.

Also Read: Meet multi-millionaire Kotakites: 5 executives worth Rs 100 crore each in Kotak Bank

Uday has served as Chairman of the SEBI constituted Corporate Governance Committee. In October 2017, the Uday-led panel submitted the report on corporate governance to SEBI recommending sweeping changes to create a more robust and transparent governance environment. In October 2018, Government of India appointed Uday as the non-executive chairman of the new IL&FS board with a mandate to steer one of India's largest NBFCs - IL&FS, out of the crisis that it is caught up in. Uday is a member of the International Advisory Panel of Monetary Authority of Singapore, the International Advisory Board of the Government of Singapore Investment Corporation (GIC) and President of the Confederation of Indian Industry (CII).

Also Read: Uday Kotak ends long standoff with RBI; sells 2.8% stake in Kotak Mahindra Bank

Uday is recipient of the 'Ernst & Young World Entrepreneur of the Year Award' in 2014, 'Economic Times Business  of the Year Award' in 2015, 'Businessman of the Year 2016' by Business India, 'Lifetime Achievement Award at Financial Express' Best Banks' Awards 2016, 'USIBC Global Leadership Award' at the 2018 India Ideas Summit organised by the U.S.-India Business Council, 'Life Time Achievement Award' at Magna Awards 2019 by Businessworld and 'Best CEO in Banking Sector' by the Business Today Best CEO Awards 2019.

Uday holds a Bachelor's degree in Commerce from Mumbai University and a Master's in Management Studies degree from Jamnalal Bajaj Institute of Management Studies, Mumbai.

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