Nippon Life India Asset Management Limited announced that the Board Directors of the Company based on the recommendation of the Nomination and Remuneration Committee, at its meetings held on April 25, 2023 approved appointment of the following Directors: Mr. Upendra Kumar Sinha has been appointed as an Additional Director (Independent Non-Executive Director and also as Non-Executive Chairperson) with effect from May 01, 2023 and also as Non-Executive Chairperson) for a term of 5 years. Mr. Hiroki Yamauchi appointed as an Additional Director (Non-Executive Non-Independent Director) of the Company with effect from April 25, 2023 will be liable to retire
by rotation. The company also announced that Mr. Akira Shibata (Nominee Director of Nippon Life Insurance Company), Non-Executive Non-Independent Director of the Company has tendered his resignation due to change in management team of Nippon Life Insurance Company, with effect from April 25, 2023. Mr. Sinha served as the Chairman of Securities and Exchange Board of India (SEBI) for a period over six years between 2011 and 2017. During his stewardship SEBI is credited with having brought in significant regulatory amendments in areas such as Takeover Code, Foreign Portfolio Investors, Alternate Investment Funds, Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts(InvITs) etc. SEBI reforms in mutual funds made this industry a household name and India's ranking in shareholder protection rose substantially because of SEBI's action on strengthening corporate governance. Prior to this he was the Chairman and Managing Director at UTI Asset Management Company Pvt Ltd. for six years. Preceding this, he was the Joint Secretary in the Ministry of Finance and looked after Banking and Capital Markets Divisions. Besides the above, he has held some very important positions as enumerated below: Chairman of Association of Mutual Funds in India. Chairman Asia Pacific Regional Committee of the International Organisation of Securities Commissions (IOSCO). Chairman of the Government appointed committee on Foreign Institutional Investments in 2010 Chairman of the RBI committee on Micro, Small and Medium Industries(MSMEs) in 2019. Chairman of the Insolvency and Bankruptcy Board of India(IBBI) committee on group insolvency in 2020. Currently, he works as independent director on the board of some companies and also advises a private equity fund. His book- ‘Going Public' on his term in SEBI was published by Penguin Random House in 2019. He has also edited a book- ‘Treatise on Securities Laws' published by Thomson Reuters in 2020. Mr. Sinha was selected for the Indian Administrative Service in 1976. He holds a M.Sc. and LLB degree. Mr. Hiroki Yamauchi serves as General Manager, Global Asset Management Business Department at Nippon Life Insurance Company (NLI). In his over 20-year professional career with NLI, he has performed various roles, including corporate planning, marketing planning, and group annuity business. Also, he has worked for Nissay Asset Management in corporate /investment planning for 4 years. Besides the above, he has also spent his professional career with Nissay Deutsche Asset Management (Europe), where he held the position of Fund Manager for 3 years. In the most recent role, he has engaged in NLI's Indian life insurance and asset management business as Head of Indian Business for 2 years (2020-2022). He holds a B.A. (Economics) from the University of Tokyo.