REEL Strengthens Board of Directors and Senior Leadership Team with New Appointments

REEL Strengthens Board of Directors and Senior Leadership Team with New Appointments to Support Next Phase of Growth

Refreshes Board with Appointment of New Independent Chairman and New Directors

 Ramky Enviro Engineers Limited (“REEL” or the “Company”), a leading provider of environmental services and solutions where KKR acquired 60% controlling interest, today announced the appointment of highly qualified directors to its Board.  The Company also announced four additions to its independent management team in the newly created Joint Managing Director, Chief Financial Officer, Chief Human Resources Officer, and Head of Legal and Compliance roles who all will be under the overall leadership of Mr.M. Goutham Reddy as CEO & Managing Director. The team will work under the guidance of the newly created Board of Directors.

Mr.B. S. Shantharaju will serve as Independent Chairman of the Board. Mr.Narayan Seshadri will also join as an independent director. Ms.Lim Hwee Hua,Mr.Sanjay Nayar and Mr.Rupen Jhaveri will be the other non-executive directors on the Board. Mr.Masood Mallick has joined REEL’s management team as Joint Managing Director overseeing operations of the Company globally across all business verticals and Mr.Anil Khandelwal has joined as CFO and Joint Managing Director. In addition, Mr.Shujath Bin Ali has joined as Head of Legal and Compliance and Mr.Sujiv Nair has joined as CHRO. Messrs. Mallick and Khandelwal will also join the Company’s Board of Directors.

The Chairman, Mr.Shantharaju commented, “With its nationwide footprint, I believe that REEL can play a key role in supporting the Prime Minister’s Swachh Bharat (Clean India) Mission. REEL’s comprehensive and cost-effective set of environmental services and solutions are playing an important role in helping India and other emerging markets address critical waste management needs. With its strong market position, deep leadership team and support from a leading global investor, REEL is well positioned for success and I am excited to join the Company to provide support and guidance as it enters its next phase of growth.”

Biographical Information on the Key New Appointments:

B. S. Shantharaju (Independent Chairman of the Board of Directors) has helped to lead and grow some of India’s largest public services companies, most recently as CEO of Indus Towers, which he helped build into one of the world’s largest operating telecom tower companies. Prior to Indus Towers, Mr. Siddaiah served as CEO of Delhi International Airports and as Managing Director for Gujarat Gas Company Limited. Earlier in his career, he held positions at BG Group, SmithKline Beecham Pharmaceuticals (now part of Glaxo Smithkline), Hindustan Aeronautics and Eicher Tractor.

Narayan Seshadri (Independent Director) is Chairman & CEO of Tranzmute Capital, which he co-founded in 2008, and Halcyon Resources and Management. In addition, he currently serves as independent director on the boards of several companies including AstraZeneca Pharma India, Kalpataru Power Transmission, Magma Fincorp, PI Industries, and WABCO India. In 2006 he established a Special Situations Fund to invest in distressed and undervalued businesses. Prior to that he led KPMG Consulting, India after he merged Andersen’s Business Consulting practice into it.

Lim Hwee Hua is senior advisor to KKR and executive director of Tembusu Partners.  She previously served as an elected member of Singapore’s Parliament from December 1996 until May 2011 and served as Minister in the Prime Minister’s Office and Second Minister for Finance and for Transport, as well as in the role of Deputy Speaker of Parliament and Chairman of the Public Accounts Committee.  Before joining the Singapore Cabinet, Ms. Lim was Managing Director at Temasek Holdings where she oversaw divestments, company restructurings and sat on a number of corporate boards.

Sanjay Nayar (KKR) joined KKR in 2009 and is a Member and CEO of KKR India. He is also a member of the Asia Portfolio Management Committee and Asian Investment Committee. He is on the board of KKR's portfolio companies Radiant Healthcare, Bharti Infratel, Magma Financial Services, and Coffee Day Holdings, and has had significant involvement with KKR's investment in Apollo Hospitals. He also supports expanding the range of KKR's credit and capital markets offerings across the region. Prior to joining KKR, he served as CEO of Citigroup's Indian and South Asian operations and as a member of Citigroup’s Management Committee and Asia Executive Operating Committee. Currently, he is a member of the board of USISPF, and SEBI’s NISM Board of Governors. Mr. Nayar was additionally the deputy chairman of the Indian Banks Association (IBA) and served on the Committee of the Reserve Bank of India tasked with building the bank’s Centre for Advanced Financial Learning (CAFRAL).

Rupen Jhaveri (KKR) joined KKR in 2009 and has been a member of the India investing team since its founding. At KKR, he has led investments in Ramky Enviro, Alliance Tires, Magma Fincorp, Dalmia Cement, Max Financial Services, Emerald Media, SBI Life Insurance, Bharti Infratel and HDFC. Prior to joining KKR, he was with Goldman, Sachs & Co. in its principal investment area and Warburg Pincus in Mumbai where he was involved in a number of investments including Mahindra & Mahindra, NDTV, Amtek Auto, Sigma Electric, Sintex, Dainik Bhaskar, amongst others.

Masood Mallick (Joint Managing Director and Executive Director) has advised leading international corporations, investors, financial institutions and law firms on environmental issue management in India and internationally for close to 25 years. He is a recognized subject matter expert in management of hazardous materials, waste management and rehabilitation of contaminated sites. Prior to joining REEL, Mr. Mallick served as a Managing Director and a member of the Global Senior Leadership Team at Environmental Resources Management (ERM), a global provider of environmental, health, safety, risk and social consulting services.  He led ERM’s operations in South Asia and co-led its Global Innovation initiative. Mr. Mallick has also advised the Government of India on environmental policy and legislation, including regulatory standards and the country’s Sustainable Development Goals.

Anil Khandelwal (CFO and Joint Managing Director and Executive Director) brings over 30 years of corporate financial experience to REEL. He previously served as CFO for several Tata Group businesses, including Tata Projects, Tata Power and Tata Communications. Among his notable achievements, Mr. Khandelwal improved financial reporting, risk management and control systems at each of the business units, which contributed to increased profitability and improved credit ratings. Prior to joining Tata Group, Mr. Khandelwal served as CFO at Ashapura Aluminum, Vice President of Finance for Sterlite Industries and in a number of other financial and commercial roles. 

Shujath Bin Ali (Head of Legal and Compliance) brings more than 17 years of experience in corporate law, governance, compliance and risk management. Most recently, Mr. Bin Ali served as Senior Director – General Counsel, Compliance Officer, and Company Secretary at PAREXEL International –India, where he was responsible for providing strategic legal advice and operational legal support for India Operations. Previously, Mr. Bin Ali served as Senior Legal Counsel & Corporate Secretary for International Paper-India and Associate Vice President - Legal & Corporate Secretary for Deloitte US-India offices.

Sujiv Nair (CHRO) brings 25 years of leadership experience developing multinational and government organizations. He previously served as Chief Executive Officer of Telangana Academy for Skill and Knowledge. In addition, Mr. Nair has served in various [leadership] roles at corporations including E I DuPont India, Tech Mahindra, Dr. Reddy’s Laboratories, and Bakelite Hylam.