Ranvir Bhandari has been appointed as the executive vice-chairman of the new businesses Analjit Singh is foraying into in his personal capacity.
Singh has relinquished his position as managing director of his holding company Max India which control Max New York Life, Max Bupa Health Insurance and Max Healthcare. (See: Analjit steps aside from Max India; Rahul Khosla new MD)
Bhandari's appointment has further fuelled the speculation that Singh is keen to branch out into the hospitality business.
Bhandari was previously vice president north for ITC hotels and general manager of The Maurya, New Delhi. Before his 10-year stint at ITC, he had spent 15 years with East India Hotels.
Singh, one of the three sons of Ranbaxy Laboratories founder Bhai Mohan Singh, created the Max group in the 1990s after a division of family assets. He shifted focus from pharma to the telecom business in the mid-'90s by entering into a joint venture with Motorola for radio paging and later with Hutchison Whampoa for mobile services across the country.