Kiran Mazumdar Shaw replaces Ambani as chairperson of IIM-B board

Kiran Mazumdar ShawIndian Institute of Management Bangalore (IIM-B) has seen a change of its governing body with Biocon Ltd chairman and managing director Kiran Mazumdar Shaw replacing Reliance Industries Ltd chairman Mukesh D Ambani as chairperson of its board.

''Indian Institute of Management Bangalore (IIMB) is pleased to announce the appointment of Dr Kiran Mazumdar Shaw as the chairperson of its board of governors,'' the institute said in a statement.

She is the first woman chairperson of any IIM Board, it said, adding that the ministry of HRD has notified this change.

Further, the institute said, Mukesh Ambani had advised the board of governors at its meeting held on 11 February 2014 of his decision to step down. The board, accordingly, appointed Kiran Mazumdar Shaw as chairperson of the IIMB Board with effect from 11 February 2014, it added.

Kiran Mazumdar Shaw has been a member of the IIMB board for the past several years. She takes over from Mukesh D Ambani, who has been the chairman of the board for the last eight years.

The ministry of HRD has notified this change, the release said.

The board of governors oversees the management and provides strategic direction to the Indian Institute of Management Bangalore (IIM-B), which was established in 1973.

IIMB, ranked the top management schools, is the first in Asia to sign an agreement with Harvard Business Publishing (HBP) to distribute faculty teaching cases. It has also entered into a partnership with Richard Ivey School of Business to co-brand and distribute faculty-authored cases globally, according to its website.