UAE: DP World Limited Announces Board Appointment

March 23, 2011

DP World Limited announces the appointment to its Board of Deepak Parekh as a non-executive director, with immediate effect.

Mr Parekh is the Non-Executive Chairman of HDFC Ltd, India’s premier Housing Finance Institution. A Chartered Accountant by profession, he has been with HDFC for 32 years in the role of Chief Executive and then Executive Chairman. Under his leadership HDFC has grown into a diversified financial institutional including Banking, Asset Management, Life Insurance.

Mr Parekh is on the board of several leading corporations including Non-Executive Chairman of Infrastructure Development Finance Company (IDFC), GlaxoSmithkline Pharmaceuticals Ltd, Siemans India Ltd, Lafarge India and Wireless Network Services.

Mr Parekh has been a member of the Indian Government appointed committees and advisory panels on matters ranging from infrastructure reform, capital markets and financial services.

Mr Parekh is an independent director and becomes the fourth independent director on the Board of DP World.

Sultan Ahmed Bin Sulayem said: “I am delighted to welcome Deepak Parekh to the DP World board. I have been deeply impressed by Deepak’s leadership and vision at the helm of HDFC, transforming the company from a highly successful Housing Finance Institution to a full-service financial institution. His experience will lend further strength to our Board.”

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Source: dpworld, March 23, 2011