Many names are now associated with India's richest person, Mukesh Ambani, but this is the story of the person who was instrumental in Reliance Industries and the company's split between brothers Mukesh and Anil Ambani. Kundapur Vaman Kamath was appointed as an independent director of Reliance Industries for a period of five years in 2022 by Mukesh Ambani, the chairman and managing director of Reliance Industries. Kamath also serves as chairman of Jio Financial Services, a subsidiary of Reliance Industries Limited, until the company goes public as an independent entity in August 2023. In FY 22–23, Kamath received a commission of Rs 39 lakh and a sitting salary of Rs 3 lakh as a member of Reliance's Board of Directors, while Mukesh Ambani receives no salary or profit-based commission, according to PTI and HT. Kundapur Vaman Kamath, also referred to as KV Kamath, is an Independent Director and a member of the Board of Directors of Reliance Industries. Additionally, he serves as the Non-Executive Chairman and Independent Director of Jio Financial Services, a Reliance Industries subsidiary.
Beginning his banking career in 1971 at ICICI, Kamath worked for several years in South East Asia before moving to the Asian Development Bank in 1988. In 1996, he rejoined ICICI as its Managing Director and CEO. After stepping down as CEO and Managing Director in 2009, Kamath remained Chairman of ICICI Bank until 2015.
Additionally, from 2011 until 2015, Kamath was the Chairman of Infosys. After the BRICS countries established the New Development Bank in 2015, Kamath was named its first President and served in that capacity until 2020. Currently, he is the Chairman of the National Bank for Financing Infrastructure and Development (NaBFID) and an Independent Director on the boards of Lupin, an Indian pharmaceutical company, and Schlumberger, a Houston-based oil services company.
After their father's passing, according to TOI, Kamath was a key player in the division of Reliance between brothers Mukesh and Anil Ambani as a member of the company's board of directors. Kamath's appointment to the company board for a five-year term was announced by Reliance Industries Limited in 2022. Under Kamath's trusted leadership, as per Mint, Jio Financial Services has a market capitalization of Rs 2 lakh crore.
Kamath is a mechanical engineer who graduated from the National Institute of Technology Karnataka (NITK Surathkal) with a bachelor's degree in mechanical engineering and the Indian Institute of Management Ahmedabad (IIM Ahmedabad) with a postgraduate degree in business administration. In 2008, he received one of India's greatest civilian honors, the Padma Bhushan.
