DLF appoints dual CEOs

Bengaluru: DLF Ltd, India’s largest real estate firm, on Friday said it has appointed two of its executives as chief executive officers.

Ashok Kumar Tyagi and Devinder Singh, who are whole-time directors, have been re-designated as CEOs. They will continue to be directors as well.

Tyagi and Singh replace Rajeev Talwar, who was CEO since August 2015. In January this year, DLF said Talwar has decided to retire.

In December 2018, Tyagi had replaced Saurabh Chawla as group chief financial officer. However, less than a year later, Vivek Anand was appointed as the new group CFO.

Both Tyagi and Chawla were instrumental in the game-changing deal when DLF promoters sold their 40% in its rental arm DLF Cyber City Developers Ltd (DCCDL) to GIC Pte Ltd.

DLF chairman Rajiv Singh’s daughters Savitri Devi Singh and Anushka Singh have been appointed as non-executive and non-independent directors.

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Original Source – LiveMint

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