Fairfax India Holdings Corporation announced that Prem Watsa, Chairman of Fairfax India?s board since 2015 will step down as Chairman and Benjamin (Ben) Watsa will be appointed as Chairman of the Company?s board effective July 1, 2024. Prem will continue to serve on the board of directors of Fairfax India. Ben is the Founder and CEO of Marval Capital Ltd. (?Marval?), which began operations in 2017.

Marval is an investment firm that focuses on the Indian market, specializing in small and mid-cap publicly listed companies. Ben began his career in 2001 and has twenty-three years of experience in the investment industry. Prior to Marval, Ben worked at Lissom Investment Management Inc. (?Lissom?) for 11 years where he was a Partner and Portfolio Manager and managed Lissom?s small and mid-cap North American equity fund.

Before Lissom, Ben spent over five years in New York as an investment banker in the Financial Institutions Group as an analyst at Banc of America Securities and as an associate at Cochran Caronia Waller. Ben also serves as a director of Fairfax Financial Holdings Limited (?Fairfax?). The current CEO of Fairfax India, Chandran Ratnaswami will become Executive Vice Chairman of Fairfax India effective July 1, 2024.

Sumit Maheshwari, Managing Director and CEO of Fairbridge Capital Private Limited will continue to manage Fairfax India?s investment operations on the ground in India. Both Sumit and Gopal will continue to report to Chandran in his role as Executive Vice Chairman.