Tuesday, August 25, 2009

Reliance Refinery Industries Ltd (RIL) Jamnagar News Gujarat India

RIL appoints two talented professionals as Executive Directors.

Reliance Industries Ltd (RIL), major player in the Indian petrochemicals sector, on Friday announced that it has appointed two new Executive Directors.

The Company appointed its senior executive Mr. PMS Prasad, who directs its upstream and refining business, and Mr. R Ravimohan, former Chairman and MD of Crisil, the premier credit ratings organization, as executive directors on its board with immediate effect.

These appointments bring the RIL board's strength to 14 members with 7 members being independent directors.

Mr. Prasad, a leading energy industry professional, has been working with RIL for more than 28 years. The project of Jamnagar refinery and petrochemical complex was headed by him.

Mr. R Ravimohan has been intimately involved with the development of Indian financial system and has pioneered the era of electronic stock markets in India.

Mr. Mukesh Ambani, RIL Chairman and MD, stated that Mr. Ravimohan is one of the best financial and risk management minds of the world, whereas Mr. Prasad has played an integral role for the growth of RIL and for its achievements. He looks ahead to the contributions of these 2 talented professionals to bring the company forward on a sped up growing track.

Shares of Reliance Industries (RIL), on Friday, closed at Rs 1,928.65, up 1.61% or Rs 30.65. The total quantity of shares traded was 772,522 on the BSE.

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