HDFC Standard Life Insurance has elevated its executive director and chief financial officer, Vibha Padalkar, to the post of managing director and chief executive officer for a period of three years, effective Wednesday.
Her appointment came after the current MD and CEO, Amitabh Chaudhry, resigned on September 8 to join Axis Bank as MD and CEO for a period of three years, effective January 1, 2019.
“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,” Padalkar was quoted as saying in a release Wednesday.
She joined HDFC Life in August 2008 and has been leading the finance, investor relations, legal, secretarial and compliance, internal audit and risk functions.
The company’s scrip is trading at Rs 433.90, down 2.69 per cent on the BSE, against 0.76 per cent rise in the benchmark.