Real estate company Brigade Group on October 11 appointed Pavitra Shankar as the managing director of the company and Nirupa Shankar as joint managing director for five years, the company said.
Pavitra Shankar and Nirupa Shankar are the daughters of MR Jaishankar, the executive chairman of the company.
The board approved the resignation of MR Jaishankar from the position of managing director of the company with effect from the closing business hours of October 11, 2022, the Bengaluru-based firm said.
Jaishankar will continue in his role as a Director and Executive Chairman, and will mentor the next generation of leaders in their new roles, the company said.
M R Jaishankar, Executive Chairman, Brigade Enterprises Limited, said, “The internal elevation of both Pavitra and Nirupa is in keeping with our overall strategy and well-thought-out succession planning process. Both have played lead roles in the expansion and growth story of Brigade. Both have future-oriented thinking, clear vision, and passion for advanced technologies and sustainable growth and hold the Brigade Core Values as a guiding force."
Before joining Brigade, Pavitra established and oversaw Legion Real Estate in Menlo Park, California, which offered business development and real estate marketing advice to Indian developers aiming for the NRI market in North America. Currently, she is responsible for Brigade's residential business strategy and growth, with a strong focus on customer experience and data analytics.
Additionally, Nirupa has been overseeing the company’s hospitality, office and retail portfolios. She also leads Public Relations (PR) and Innovation functions and is a Trustee of the Brigade Foundation, the not-for-profit trust of the Brigade Group.
The Board of Directors has also considered and approved the appointment of Aroon Raman, Independent Director, as non-executive Vice Chairman from October 11, 2022, to August 4, 2024, the company said.
Among the other internal changes, Amar Mysore has been reappointed as Director designated Executive Director for a further period of five years from May 16, 2023, till May 15, 2028.
To further strengthen the board, the appointment of Velloor Venkatakrishnan Ranganathan was announced as an Additional Director in the category of Non-Executive Independent Director of the company for a period of five years from October 11, 2022, to October 10, 2027.
Brigade Enterprises has a presence across Bengaluru, Mysuru, Hyderabad, Chennai and Kochi with developments across the residential, office, retail and hotels.
Also read: Brigade Group inks joint development contracts in Chennai and Bengaluru, eyes Rs 4,000 crore revenue
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