The Board of Directors of Religare Enterprises Limited (REL), a leading diversified financial services group, has announced the elevation of Maninder Singh as Group Chief Executive Officer (CEO) with immediate effect.
Nalin Nayyar will be stepping down from his current position as the interim Group CEO. However, he continues in his role as Group President – Strategic Initiatives and as such, will continue to oversee all strategic initiatives across the group in partnership with the operating management.
Maninder Singh, currently the Chief Business Officer for REL, comes on board with a rich experience of almost three decades in the corporate sector. He was previously associated with Ranbaxy Laboratories for 27 years, where he rose to eventually become the Global Financial Controller. During his tenure at Ranbaxy, he handled several critical global roles and successfully managed Treasury, Insurance and Risk Management, Business and Trade Finance, Indirect Taxes, Payroll and Trust services, Financial and Management Accounting, Merger and Acquisitions, and Investor Relations functions.
Singh has served as a Director on the Board of various operating subsidiaries/group companies of Ranbaxy. Currently, he is also on the Board of various subsidiaries and operating companies of REL.
Commenting on the elevation, Malvinder Mohan Singh, Non-Executive Chairman and Shivinder Mohan Singh, Non-Executive Vice-Chairman, REL said, “On behalf of the board, we welcome and congratulate Maninder Singh on his new role. We are confident that under his able leadership, Religare as a group will continue to progress well on its stated strategic path. We would also like to thank Nalin Nayyar for his contributions at Religare and will continue to work with him for various strategic initiatives at a broader group level.”
Speaking of his new role, Singh said, “I thank the Board for giving me this opportunity. I look forward to continue working closely with all colleagues and steer the organization through its next phase of evolution.”