Godrej group chief Adi Godrej has been elected as the chairman of the executive board of the Indian School of Business (ISB), following resignation of Rajat Gupta, who is embroiled in an insider trading case in the U.S.

Mr. Godrej was unanimously elected as the chairman after a meeting of the executive board here on Saturday, ISB Dean Ajit Rangnekar told reporters. Mr. Godrej said he is taking over as the chairman under unusual circumstances.

ISB’s executive board has more than 30 members, including Reliance Anil Dhirubhai Ambani Group Chairman Anil Ambani, Bajaj Auto Chairman Rahul Bajaj, Bharti Enterprises Chairman Sunil Mittal, Infosys Chief Mentor N R Narayana Murthy, ICICI Bank CEO Chanda Kochhar and ArcelorMittal CEO Lakshmi Mittal, according to its website. About 13 members attended Saturday’s meeting.

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