India-focussed real estate investment firm Hirco plc on Thursday said it has revamped its top brass with two of its non-executive directors — Rob Young and Nigel McGowan — and its chief executive officer — Priya Hiranandani — ceasing to be directors.
The Mumbai-based Hiranandani Group firm said changes took effect from September 22.
Nigel McGowan, however, would continue to act as the company secretary and Priya Hiranandani would continue to advise the board as a consultant, the company informed the London Stock Exchange.
Rob Young and Nigel McGowan have been non-executive directors and Priya Hiranandani has been chief executive officer since Hirco's initial public offer (IPO) in 2006.
Commenting on the board changes, Niranjan Hiranandani, Chairman of Hirco plc, said: “Now that Hirco has invested its IPO proceeds, we recognise the sense in reducing the size of the board, but their experience and judgement has been much valued and will be missed.”
