ICRA on Saturday announced the appointment of Ramnath Krishnan as the company's Managing Director and Group Chief Executive Officer. He joined ICRA in 2020 and is currently President Ratings and Chief Rating Officer of the company.

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Krishnan, who will assume the new charge with immediate effect, has a proven record of leadership, gained during the course of a career spanning more than three decades in banking and finance in India and abroad, ICRA said in a statement.

We are delighted to benefit from Krishnan's deep knowledge of risk, credit and markets as we welcome him to his new role. We are confident his long experience, together with the strong leadership qualities he has demonstrated since joining the company will help him lead ICRA into its next phase of growth, Non-Executive Chairman and Independent Director Arun Duggal said.

In his new role, Krishnan will drive ICRA's business strategy, augment organizational capabilities, strengthen the independence and objectivity of the organisation's culture of analytical excellence and continue to uphold the company's high standards of corporate governance.

Krishnan succeeds N Sivaraman, who stepped down from the position of Managing Director and CEO on Friday, October 22, for personal reasons.