ICICI Prudential Asset Management Company Limited is reshaping its board, with the resignation of Guillermo Eduardo Maldonado-Codina as Director effective close of business on March 30, 2026, and the appointment of Rajeev Mittal as Non-Executive Director from March 31, 2026, subject to shareholder approval. The move signals a governance refresh as the firm looks to bolster its strategic oversight with an industry veteran who has steered asset-management businesses across regions.
Mittal brings more than three decades in asset management and currently serves as Chief Executive Officer of Eastspring Investments Group, while also being a member of the Prudential Group Executive Committee. In his leadership role, he chairs the Executive Management Committee and oversees the firm’s strategic development. His career includes senior posts such as Managing Director and Head of Asia at Fidelity International, along with longstanding leadership spells at AIG and PineBridge Investments across Europe and the Asia Pacific. He holds a Bachelor of Science in Mathematics and Statistics from the University of Bradford, UK. ICICI Prudential AMC notes that Mittal is not debarred from holding directorships by SEBI or any other regulator.
The board change comes as Maldonado-Codina steps down after serving as a director and member of the Nomination and Remuneration Committee. The company extends its appreciation for his contributions during his tenure and wishes him well in future endeavors. With Mittal joining the board, ICICI Prudential AMC aims to leverage his global asset-management perspective to strengthen governance and strategic deliberations as the company navigates a competitive investment landscape.
Taken together, the appointments underscore a leadership transition that prioritizes seasoned governance and international expertise at a time when asset managers face heightened scrutiny and rapid market shifts. The appointment of an additional Non-Executive Director will require shareholder approval, after which Mittal will participate in guiding the company’s long-term direction from the boardroom.