Latest News | Max Group Announces Leadership Changes

New Delhi, Oct 28 (PTI) Diversified firm Max Group on Wednesday announced high-level organisational changes with Tara Singh Vachani, executive chairperson of Antara, taking over as vice-chairperson of Max India with an immediate effect.

Similarly, Rajit Mehta, chief executive officer and managing director of Antara, will take over as the managing director of Max India from January 15, 2021, Max Group said in a statement.

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Both will also continue to manage their existing roles and responsibilities, it added.

On the other hand, Mohit Talwar would relinquish his roles as vice-chairman of Max Group and managing director of Max India with effect from January 15, 2021.

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Talwar, who is approaching retirement age, will also step off the boards of Max Ventures and Industries and Antara during the first quarter of 2021, Max Group said.

He will, however, continue as the managing director of Max Financial Services Ltd (MFSL), the listed parent company of Max Life, for another year, to provide continuity to the key initiatives that are currently underway, it added.

He will also remain on the board of Max Life and Max India as a non-executive director, the company said.

"One of the defining characteristics of long-enduring organisations is how they manage both continuity and transition of top leadership. This factor has played a central role in Max Group's longevity spanning over three decades," Max Group Chairman Analjit Singh said.

He added that the group's top leaders have enjoyed long tenures at the group and have grown professionally through the years as the group progressed and expanded.

With 13 years at the Max Group, of which the last eight years have been in the managing directorship position, Talwar epitomises this complementary evolution of both the organisation and its leader, he added.

"His intent of handing over his responsibility in a phased manner is driven by his desire to ensure a seamless transition in the group to which he has given so much of his time and effort," Singh said.

The Max Group is a leading player in the life insurance segment and has ventured into other sectors like real estate.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)