Rediff Brings In Retired Indian Bureaucrat As Independent Director On Board
NASDAQ-listed Rediff.com India Limited has announced the appointment of M Madhavan Nambiar as an independent director to its board. He will also be a member of the audit committee of the firm, a worldwide online provider of news, information, communication, entertainment and shopping services for Indians.
Nambiar has spent over 36 years in the Indian Administrative Service with many years focused on IT industry. He was most recently secretary to the government of India, first in the ministry of information technology and then in the ministry of civil aviation.
Ajit Balakrishnan, chairman of the board at Rediff.com India said, "He joins us with extensive experience and strong strategic skills generated from his career in the Indian Administrative Service. His expertise will be of great benefit to the board."
Nambiar is a Fellow at the Judge Business School, University of Cambridge, an associate professor at Columbia University and a Visiting Fellow at Oxford University.
Rediff recently reported decline in revenues in both the US publishing business as well as India online revenues for the quarter ended December 31, 2011 over the year ago period while sequentially revenues remained almost flat compared to the previous quarter ended September 30.
Its India online revenues includes fee-based and online advertising revenues from its websites while the US revenues comes from the Rediff India Abroad website and from the printed newspapers India Abroad and India in New York.