Companies

Analjit’s daughter Tara Singh Vachani is new Vice-Chairperson of Max India

Our Bureau New Delhi | Updated on October 29, 2020 Published on October 29, 2020

Replaces Mohit Talwar, who retires in January

Max India, part of the multi-billion dollar business conglomerate Max Group, has a new Vice Chairperson in Tara Singh Vachani, youngest daughter of Chairman Analjit Singh.

In a statement issued on Wednesday, the group said Vachani, currently Executive Chairperson of Antara, would replace the existing Vice-Chairman Mohit Talwar, who is approaching retirement age. Vachani, who was elevated to the new role effective from Wednesday, would also retain her current position in Antara.

Also read: Analjit Singh sells 4.6% stake in Max Healthcare to UK firm

Talwar’s position as Managing Director of Max India — the group’s holding company — will be handed over to Rajit Mehta, Antara CEO and MD, with effect from January 15, 2020, when Talwar retires.

Talwar will also step down from the boards of Max Ventures & Industries and Antara during the first quarter of calendar year 2021, the statement said.

However, he will continue to be the Managing Director of Max Financial Services Ltd, the listed parent company of Max Life, for another year. He will also remain on the board of Max Life and Max India as a Non-Executive Director.

Analjit Singh, Chairman, Max Group, said: “One of the defining characteristics of long-enduring organisations is how they manage both continuity and transition of top leadership. This factor has played a central role in Max Group’s longevity spanning over three decades. Our top leaders have enjoyed long tenures at the group and have grown professionally through the years as the group progressed and expanded.”

Talwar has been with the Max Group for 13 years, of which last eight years was as MD. Singh said: “Talwar epitomises this complementary evolution of both the organisation and its leader. His intent of handing over his responsibility in a phased manner is driven by his desire to ensure a seamless transition in the Group to which he has given so much of his time and effort.”

He further said, “In Tara and Rajit, we have the Max Group’s tenured top leaders. For Tara, Max India Vice Chairpersonship will be familiar grounds since she has been on the board of Max India from January 2016. For Rajit, the Max India MD position complements the key position he already holds as the MD & CEO of its flagship business Antara. The additional role will allow him to align the interest of Max India and the strategic business choices of Antara. I have high conviction that this succession planning will ensure resilience and longevity, traits most in demand in the uncertain post-pandemic world.”

Before joining Max Group, Talwar worked with Standard Chartered, ANZ Grindlays and Bank of Nova Scotia, the statement said.

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Published on October 29, 2020
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