HDFC Asset Management Company, on November 16, appointed Navneet Munot as the Managing Director & CEO. He will succeed the present Managing Director Milind Barve.
Navneet Munot is currently the chief investment officer (CIO) at the SBI mutual fund company, where he has worked for 12 years.
Barve, on June 12, was re-appointed as the managing director of the company, not liable to retire by rotation, for a further period effective from November 1, 2020 upto January 31, 2021, subject to the approval of the members at the ensuing Annual General Meeting.
Barve expressed his desire to not seek an extension of his current term as the managing director which expires on October 31, 2020, as he will be turning 63 this year.
However, in order to provide adequate time to the company for identifying a successor in accordance with the succession planning process and to ensure continuity and smooth functioning of the business of the Company, Barve agreed to an extension of three months as the Managing Director of the Company effective from November 1, 2020 to January 31,2021.
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