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Deepak Parekh is Siemens Chairman
By siliconindia
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Wednesday, 11 August 2004, 19:30 IST
BANGALORE: Siemens announced the appointment of Deepak S. Parekh, as the Chairman its Board of Directors, succeeding Dr. F.A. Mehta who stepped down after a successful tenure of 16 years. In November 2003, he was inducted on the
Siemens Board as a Director. At its meeting , the Board of Directors of Siemens Ltd. unanimously chose Deepak Parekh as its Chairman. Parekh was appointed after Dr. F.A. Mehta stepped down as Chairman after 16 long years at the helm of affairs at Siemens. Dr. Mehta will however, continue as a Director on the Board.
A Chartered Accountant by qualification, Parekh, 59, is a member of the Institute of
Chartered Accountants England and Wales. He began his career with Ernst & Ernst
Management Consultancy Services in New York. On his return to India, Parekh worked with Grindlays Bank in the Merchant Banking Division. He later joined Chase Manhattan Bank as Assistant representative for South Asia and also did a short stint in Singapore and Hong Kong with Chase Manhattan Bank N.A.
Parekh has served as a member of various committees set up by the Government of India and contributed to the growth of a robust business environment in India. These were in the areas of housing, insurance, banking reforms, capital market trading and power generation.
In recognition of his achievements and contribution to Indian business, Mr. Parekh has been bestowed with several honors. Prominent among these are the prestigious Businessman of the Year 1996 by Business India, the J.R.D. Tata Corporate Leadership Award by All India Management Association and became the youngest recipient of the Corporate Award for Lifetime Achievement from The Economic Times.
Apart from HDFC Ltd. where Mr. Parekh is an Executive Chairman, he is a Non Executive Chairman of HDFC Chubb General Insurance Ltd., HDFC Standard Life Insurance Company Ltd, HDFC Asset Management Company and Infrastructure Development Finance Company Ltd. (IDFC). Other than these companies, Mr. Parekh is also the Non-Executive Chairman of Glaxo Burroughs Wellcome (India) Ltd, and is on the Board of several companies such as Castrol BP India, Hindustan Lever Ltd, Mahindra & Mahindra and Indian Hotels Company.