KP Singh steps down as chairman of DLF, son Rajiv takes over
New Delhi: Realty player DLF Ltd’s long standing chairman KP Singh has stepped down from his position, paving the way for his son Rajiv Singh to become the chairman of the company.
KP Singh will be the Chairman Emeritus of the company. He resigned from the position of Non-Executive Director/ Chairman with effect from 4 June, 2020. He letter of resignation was “reluctantly accepted by the Board of Directors”, the company said in a regulatory filing.
KP Singh was associated with the company for 50 years and it was under his management that the company emerged as one of the largest real estate companies in the country. The realty player is credited with changing the landscape of Gurugram, a Delhi suburb, in the last couple of decades. It was under his leadership that the company went public and brought the largest IPO of its time in the country.
He was conferred with ‘Padma Bhushan’ award by the President of India in 2010.
Rajiv Singh, who was so far serving as Vice Chairman & Whole-time Director of DLF, has been appointed as Whole-time Director and designated as ‘Chairman’ of the realty major with effect from 4 June 2020. The terms of appointment of Rajiv Singh like remuneration etc will remain unchanged.
Rajiv Singh is a mechanical engineer from MIT and has been the Vice Chairman of the Company since 9 April, 1999.