On Wednesday, Veteran banker Uday Kotak has assumed office as the president of the Confederation of Indian Industry (CII) for the financial year 2020-21, the chamber said.
The billionaire, who is the managing director and CEO of Kotak Mahindra Bank Limited, will take over the position from Vikram Kirloskar, chairman and managing director of Kirloskar Systems Ltd and vice-chairman of Toyota Kirloskar Motor.
T V Narendran, CEO and managing director of Tata Steel Limited, is now the president-designate of CII for 2020-21, it said.
Sanjiv Bajaj takes over as CII vice president for 2020-21. He is the chairman and managing director of Bajaj Finserv Limited.
Kotak has been associated with CII for over two decades and has served in many capacities in the chamber.
He holds a bachelor's degree in commerce and an MBA from Jamnalal Bajaj Institute of Management Studies, Mumbai.
Kotak was appointed as non-executive chairman of the new IL&FS board to steer the company out of its financial crisis. He was also chairman of the SEBI panel on corporate governance.