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ICRA names Naresh Takkar as CEO of Group ICRA

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Pune (Jan. 30, 2015): ICRA Limited today notified the Stock Exchanges that Naresh Takkar has been named CEO of Group ICRA, succeeding PK Choudhury, effective immediately. Mr. Takkar will continue to hold his current title as Managing Director and CEO of ICRA, Limited.

“Mr. Takkar has provided strong leadership to ICRA over a career spanning more than 20 years with the company, and he will be able to leverage his knowledge and experience to lead Group ICRA as it focuses on serving the evolving needs of the markets,” said Arun Duggal, Chairman of ICRA, Limited.

Group ICRA includes ICRA, Ltd., which provides credit ratings in India, PT ICRA Indonesia, ICRA Lanka Limited and ICRA Nepal Limited, which provide credit ratings in Indonesia, Sri Lanka and Nepal, respectively, ICRA Management Consulting Services, Ltd., ICRA Techno Analytics Limited, and ICRA Online Limited, and their subsidiaries.

“I am honored to have been chosen to lead Group ICRA as CEO. ICRA has strong talent and resources, and I look forward to leading the entire organization as we continue to build our businesses for the future. I would also like to thank Mr. Choudhury for his many contributions in leading Group ICRA over his 24 years of service at the company.” said Naresh Takkar, CEO of Group ICRA.

Mr. Takkar joined ICRA as an analyst in 1991 and rose through the ranks as Joint Managing Director & Chief Rating Officer before being named Managing Director and CEO of ICRA, Ltd. Prior to ICRA, he was in the System Consulting Division of Tata Consultancy. He is a Chartered Accountant with The Institute of Chartered Accountants of India and holds a Bachelor’s Degree in Commerce from the University of Delhi.

ICRA also notified the stock exchanges about the appointment of Mr. Robert Scott Fauber, Managing Director, Head of Commercial Group and Mr. Thomas John Keller Jr, Managing Director, Geographic Management and Sovereign Ratings of Moody’s Investors Service as Additional Directors under the category “Non Independent and Non Executive Director” with effect from January 30, 2015.