Milestone appoints Arya's wife, brother to board of directors
Milestone Capital has inducted the wife and brother of late managing director and CEO Ved Prakash Arya (pictured) onto its board of directors, coming as an executive committee looks to replace Arya weeks after his accidental death.
Arya's widowe Rubi Arya is currently the global head of human resources at Kingfisher Airlines, and his brother Ashwein Arya is a director of fixed income, currency and commodities sales at Royal Bank of Scotland.
Milestone's board of directors is in the process of deciding on a successor to CEO Ved Prakash Arya, who died late last month when a coconut tree collapsed on him. Rubi Arya, who was with her husband at the time, escaped serious injury.
Arya is credited with setting up Milestone in 2007 and turning it into a company with $1 billion in assets under management. He helped to raise four real estate funds and broker joint venture partnerships with domestic private equity players IL&FS Investment Managers and Religare Venture Capital.
Milestone's board must determine how to find an executive to fill Arya's iconic shoes at the firm. "We regret to inform the sudden demise of our Managing Director, Ved Prakash Arya on 25th August'11," Milestone posted on its main webpage. "While all we are in the process of updating all information, please do not hesitate to contact us for any details or clarifications."
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