Analjit Singh, the founder and chairman of Max Life Insurance Co., has formally stepped down from the position and as a member of the board as of Dec. 4.
Rajiv Anand will take his place as chairman of the board of directors on Dec. 5.
In its meeting held on Dec. 4, the board of directors noted the resignation of Singh and approved the appointment of Anand, the company said in its exchange filing.
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"As the promoter of Max Financial Services and Max Life Insurance Company, it has been most fulfilling and rewarding to be an integral part of the startup and witness the company's achievements and growth over the last 23 to 24 years," Singh said in his resignation letter.
There is no doubt that the company will continue to excel under the leadership of the board and the talented management team, he said.
Singh was awarded the Padma Bhushan by the President of India in 2011. He served as a director on the board of Sofina NV/SA, Belgium. Till August 2018, he was also the non-executive chairman of Vodafone India.
Singh has served on the Prime Minister's Indo-U.S. CEO and Indo-U.K. CEO Council and served as the Honorary Consul General of the Republic of San Marino in India.
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