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Saurabh Srivastava, Arun Duggal, Ashish Gupta join Info Edge board as independent directors

01-July-2006
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Saurabh Srivastava, Arun Duggal, Ashish Gupta join Info Edge board as independent directors

Info Edge India Ltd, promoter of Naukri.com, has appointed Saurabh Srivastava, Ashish Gupta and Arun Duggal to its Board as Independent Directors.

”It is indeed a great honour for Info Edge India Ltd to have such distinguished and recognised individuals join our board,” said Sanjeev Bikhchandani, Founder and CEO Info Edge. “The extensive experience and in depth knowledge that these new directors have in the areas of IT, banking and in building shareholder value will enable Info Edge to draw on this experience in its growth strategies,” he added.

Srivasatva, who joins the Info Edge board as a non-executive Director, is one of India’s leading IT entrepreneurs, angel investors and venture capitalists. He chairs or sits on the board of diverse companies such as Scicom Technologies and Kaleidoscope Entertainment. He founded one of India’s most trendsetting IT companies, IIS Infotech (now called Xansa). Xansa Plc is a $700 million company listed on the London Stock Exchange. Srivastava also chairs Infinity, India’s leading seed-stage VC fund as also the Indian Venture Capital Association. He is a co-founder and past Chairman of Nasscom.

Commenting on his appointment; Saurabh Srivastava said, “I am delighted to join the board of Naukri.com, which is the leading Internet-based company in India, and a model entrepreneurial venture. Bikhchandani has successfully traversed the classic route from a garage to an IPO and Naukri is well poised to achieve global heights.”

Ashish Gupta, a US national, who joins the Info Edge board as non-executive Director, is a partner at Helion Venture Partners, investing in early stage companies in India and in the US. Gupta has been involved in several start-ups in the US and in India as an investor and board member. Gupta was at Amazon.com, which he joined in 1998 with the acquisition of Junglee.com, where he was co-founder.

”It is a pleasure to join the board of Info Edge and get the opportunity to work with one of the best teams in India. They have consistently demonstrated flexibility and a good sense of how consumer Internet is evolving – both ingredients of success in a fast growing and changing space. I look forward to a fruitful and enjoyable association in helping build a valuable and lasting business,” said Gupta.

Arun Duggal, a US national, also joins the Info Edge board as a non-executive Director. Duggal is an experienced international banker and advises various corporations on financial strategy, mergers and acquisitions, and in raising capital. He’s had a 26-year long career as a professional banker and was the Chief Executive of Bank of America Asia Ltd, Hong Kong during the period 1991-1994. He spent 10 years (1981-1990) with the New York Corporate Office of Bank of America handling multinational relationships, including major integrated international oil companies like Exxon Mobil and Texaco. He was also the CFO of HCL Technologies Ltd from 2001 to 2003.

”I am delighted to join the Board of Info Edge India Ltd as Chairman of the Audit Committee. It is a great company with an excellent management team. It is the leader in its business and, I am sure, it would also be one of the best in the area of corporate governance and shareholder value creation,” Duggal added.

Apart from Naukri.com, Info Edge owns portals like Jeevansathi.com and 99acres.com. The company has recently sought the approval of the Securities and Exchange Board of India (SEBI) to enter the capital market via a public issue.

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