Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, recently announced that the director M.S. Ramachandran has resigned from the Board.
Ramachandran has been a long-time, supportive director of IIP. After shareholders voted to remove the only independent director at the June AGM, Ramachandran feels he cannot fulfill the necessary duties alone, the company said in a press note on its website. His resignation leaves the board with only Chief Executive Sonny Lulla and Chair Tom Tribone.
M. S. Ramachandran has held many senior roles in the Indian energy sector. He has vast corporate and operational experience with Indian Oil Corporation Limited (“Indian Oil”), India’s leading national oil company. He began his career there as a management trainee in 1969 and rose to become chairman of the board, a position he held until 2005.
From 1998 to 2000, before joining the board of Indian Oil, Ramachandran served as the Executive Director of the Oil Coordination Committee at India’s Ministry of Petroleum and Natural Gas. After retiring from Indian Oil, he has worked as a non-executive director or advisor for several companies and organizations. He is currently the chairman of the India-Iraq Economic Cooperation Council and a member of the board of governors at the University of Petroleum & Energy Studies.