Reliance Industries expands board; appoints two additional executive directors

The board of directors of Reliance Industries has appointed former CRISIL chairman R Ravimohan and RIL insider P M S Prasad as executive directors on the board with immediate effect. With this, the board will expand to 14 members with 7 members on the board being independent directors.

R Ravimohan is the former chairman of credit rating agency Crisil and the managing director and regional head of Standard & Poor's for South and South East Asia. He is credited with building Crisil into the largest rating, financial and business research and advisory service company in India.

Ravimohan has been closely involved with the modernisation of Indian financial system and with pioneering the era of electronic stock markets in the country. He has been involved in critical policy assignments including being a member of the secondary market advisory committee of SEBI, technical advisory committee of Reserve Bank of India and the Raghuram Rajan committee on financial sector reforms.

Recognised as one of the finest professionals in the energy industry, Prasad has been with Reliance Industries for over 28 years. Presently, he heads the upstream and refining businesses, which comprises exploration and production, refinery supply and trading. Over the years, he has held various positions in the fibres, petrochemicals and petroleum businesses in Reliance Industries.

He was also the project head of the large Jamnagar refinery and petrochemicals complex. He was recently awarded a honorary doctorate degree from the University of Petroleum Engineering Studies, Dehra Dun.

Commenting on the appointments Mukesh Ambani, chairman and managing director, Reliance Industries, said in a statement, ''Ravi is undoubtedly one of the finest financial and risk management minds in the world, while Prasad has been an integral part of the growth story of Reliance and its achievements.''