Aditya Birla Capital has recently announced a change in senior management, with Kamalakar Nayak appointed as the new Chief Compliance Officer (CCO) of the company, effective from 3rd December 2024. This decision follows the approval by the Board of Directors based on recommendations from the Nomination Remuneration & Compensation Committee and Audit Committee. Nayak brings over three decades of rich experience across compliance, regulatory affairs, and risk management to the role, making him a valuable asset to Aditya Birla Capital.

The company also disclosed that the current Chief Compliance Officer, Santosh Haldankar, will step down from his role as CCO upon Nayak's appointment. However, Haldankar will continue to serve as the Company Secretary and Compliance Officer in line with the requirements set out under the SEBI Listing Regulations. This move ensures a smooth transition in the management structure while maintaining continuity in key governance roles within the company.

Nayak’s career history is noteworthy, having held pivotal positions in various organizations, including Piramal Enterprises, Piramal Capital & Housing Finance, and IDFC FIRST Bank. His experience also extends to the Reserve Bank of India (RBI), where he contributed to regulatory aspects. Furthermore, he played an integral role in the merger of DHFL with Piramal Capital and Housing Finance, managing all the regulatory and compliance aspects of this major merger. This background positions him to oversee and enhance Aditya Birla Capital's corporate governance framework and regulatory compliance protocols moving forward.

The appointment of Kamalakar Nayak is expected to bring a new era of corporate governance and ensure that Aditya Birla Capital continues to maintain high standards in regulatory compliance and risk management, all of which are vital in today’s dynamic financial landscape. His role will be crucial in steering the company through the ever-evolving regulatory environment, keeping it compliant and well-positioned in the industry.

As part of this leadership change, the company has also highlighted the importance of maintaining continuity in its compliance structure. With Santosh Haldankar continuing in his capacity as Company Secretary and Compliance Officer, the company ensures there is no disruption in its corporate governance responsibilities, which are essential for its long-term growth and success.

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This management reshuffle comes at a time when companies are increasingly focusing on strengthening their compliance functions to meet the growing regulatory challenges. Aditya Birla Capital’s appointment of Nayak reflects its commitment to maintaining high standards of governance and adapting to changing regulatory requirements, ensuring continued trust and confidence among investors and stakeholders.

The company’s recent announcement also highlights its adherence to the SEBI Listing Regulations and the steps it has taken to ensure proper compliance and governance at every level. With Nayak's expertise, Aditya Birla Capital is well-placed to navigate the complexities of the financial services sector while upholding its reputation as a responsible corporate entity.

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