CMC appoints ICICI Bank's Kalpana Morparia as Director

Mumbai: The board of directors of CMC Ltd, a subsidiary of Tata Consultancy Services Limited, has announced the appointment of Kalpana Morparia as the new independent director of the company.

Morparia was the joint managing director of ICICI Bank till May 2007. She holds bachelor's degrees in science and law from Bombay University, and had joined ICICI Limited in 1975. Over the years, she has led the ICICI group's major corporate structuring initiative, and the merger of ICICI Limited with ICICI Bank to create India's second largest bank.

"Ms Kalpana Morparia's extensive experience in banking and finance will enrich the deliberations of the CMC Board and I am sure that her contribution and counsel will be of great value to the company in the years to come," said S Ramadorai, chairman, CMC. 

With the appointment of Morparia, the CMC board now comprises seven directors - S Ramadorai, R Ramanan, Ishaat Hussain, KRS Murthy, Surendra Singh and Shardul Shroff.

The board of directors of the company also took this opportunity to thank C B Bhave for his guidance and counsel to CMC during the last seven years, who resigned from the CMC board to join SEBI as the chairman.