Sterling Holiday Resorts (India), the Chennai-based leisure hospitality and vacation ownership major, has effected major changes in its board of directors with new fund houses acquiring substantial stake in the company.
The leisure major has appointed three new members ? Siddharth Mehta, founder of Bay Capital, Shahzaad Dalal, vice-chairman and managing director of IL&FS Investment Managers and Walid Kattan, chairman and founder of Saminvest ? on its board of directors.
On being appointment as the non-executive vice-chairman, Siddharth will be advising the company on strategic matters. ?Shahzaad Dalal and Walid Kattan have been invited on Sterling’s board as the management believes that the company will benefit from their experience and expertise,? the company said.
The board has also accepted resignations of ES Ganapathy, S Sethuraman and G Sundaram as directors.