R Ravimohan appointed Chairman of CRISIL Board of Directors

Standard & Poor’s, the world’s leading provider of financial market intelligence, and CRISIL, India’s leading Ratings, Research, Risk and Policy Advisory company and a company of Standard & Poor’s, today announced that Mr. R. Ravimohan, Managing Director and Head of Standard & Poor’s, South and Southeast Asia, has been appointed Chairman of the Board of CRISIL, succeeding Mr. B.V. Bhargava who will continue to serve on the Board. Dr. Nachiket Mor, President, ICICI Foundation for Inclusive Growth, has joined the Board as Independent Director.

Mr. Tom Schiller, Executive Managing Director of Standard & Poor’s, Asia Pacific and CRISIL Board member said: “I am delighted that Ravi is assuming the chairmanship of CRISIL. With his exceptional experience, skills and vision, he will not only ensure CRISIL’s continued growth, but will bring CRISIL and Standard & Poor’s closer together in India. By combining the global strengths of Standard & Poor’s and the local expertise of CRISIL, the Board hopes to better aid the development of, and provide value to, India’s economy and financial markets. I am also very pleased that Dr. Nachiket Mor has joined the Board as Independent Director. His financial acumen and deep knowledge of the Indian marketplace will be invaluable in guiding CRISIL’s future.”

“On behalf of the Board of Directors, I would like to extend my deepest gratitude to Mr. Bhargava for his sound counsel and leadership as Chairman of CRISIL since 1999. He has been a key contributor in shaping CRISIL’s tremendous growth over the past few years, and I am pleased that he will continue to serve on the Board,” added Mr. Schiller.

Mr. Ravimohan said: “I am honoured to serve as Chairman of the Board of Directors of CRISIL, and look forward to leading a talented and experienced Board to help CRISIL navigate its future and consolidate its market leadership. Through continued innovation and leveraging of Standard & Poor’s global expertise and know-how, CRISIL will continue to provide the highest quality, independent and analytically rigorous opinions on risk in the Indian marketplace.”

Over the past 20 years since incorporation, CRISIL has successfully transformed from being India’s first and largest rating agency to a globally diversified institution with leadership positions in Ratings, Research and Advisory services in India. Standard & Poor’s acquired a majority interest in CRISIL in 2005. While CRISIL continues to serve the local Indian marketplace, Standard & Poor’s South Asia, which commenced operations in 2007, provides cross-border credit ratings, index services, investment research services, and global data and information products to South Asian markets.

The CRISIL Board now comprises Mr. R. Ravimohan (Chairman), Mr. B.V. Bhargava, Ms. Rama Bijapurkar, Mr. Tom Schiller, Mr. David Pearce, Mr. H.N. Sinor, Dr. Nachiket Mor, and Ms. Roopa Kudva (Managing Director and Chief Executive Officer, CRISIL). Mr. Deven Sharma, President, Standard & Poor’s and Ms. Vickie Tilman, Executive Vice President, Standard & Poor’s, have stepped down from the CRISIL Board.

Sourced From: CRISIL Limited