IDFC names Sunil Kakar as MD and CEO for 3 years

Mumbai, June 25 (SURYAA) Private sector financial services firm IDFC on Sunday announced the appointment of Sunil Kakar as Managing Director and Chief Executive Officer of the company with effect from July 16 for three years.

"The Board of Directors of the Company at its meeting held on 24.06.2017 has approved the appointment of Sunil Kakar as Managing Director and CEO of the company for a period of 3 years w.e.f. July 16, 2017, subject to the approval of the shareholders at the ensuing AGM of the company," IDFC said in a stock exchange filing. 

Kakar has also been appointed as Additional Director. 

IDFC also announced that its board has approved the resignation of Vikram Limaye from the post of MD and CEO. He has been appointed Managing Director and CEO of the National Stock Exchange (NSE). 

As per the profile provided by IDFC, Kakar joined the company as group Chief Financial Officer (CFO) responsible for finance, accounts, business planning, budgeting and investor relations, among others. 

Prior to joining IDFC, Kakar worked with Max New York Life Insurance as CFO since 2001. He has also worked with Bank of America for 18 years in various roles.