Crisil MD & CEO Roopa Kudva quits

Crisil managing director and chief executive officer Roopa Kudva has informed the rating agency of her intention to leave, but only after it appoints a successor. Following her notice, Crisil has initiated the search for a successor.

Roopa Kudva, Crisil MD and CEOKudva, who has completed seven years as the MD and CEO of Crisil, believes that from a governance perspective, this is the right time to move on.

Prior to this, she was the leader of Crisil's ratings business for seven years.

''Change at the top at judicious intervals is a sound governance practice and allows companies to refresh themselves. I feel very privileged and am grateful for the opportunities this great company has provided. Importantly, we have built a strong platform for the future and I believe that the best years for Crisil lie ahead,'' said Kudva.

Douglas L Peterson, chairman, Crisil, said, ''We respect Kudva's decision and appreciate that she will continue to manage the affairs of Crisil until a successor is appointed. Roopa has provided strong leadership to Crisil''.

''During her tenure as MD & CEO, the market capitalisation of Crisil has increased from Rs2,900 crore to Rs14,000 crore,'' he added.

The nomination and remuneration committee of the board, headed by H N Sinor, Vinita Bali and Douglas Peterson, will oversee the search process. Kudva will work closely with the committee during this process.

Kudva was appointed managing director and CEO of Crisil in 2007. She is credited with the evolution of Crisil from a  leading Indian rating agency to a diversified analytical company with clients ranging from the largest investment banks of the world to small firms spread across India.