Bangalore: India’s biotechnology queen Kiran Mazumdar-Shaw is the new chairperson of the prestigious Indian Institute of Management-Bangalore (IIM-B) as incumbent Mukesh Ambani of Reliance Industries stepped down.

“The Union Human Resources Development ministry has ratified late Tuesday the appointment of Shaw as the chairperson of the institute’s board of governors in place of Ambani,” a spokesperson told IANS here Wednesday.

As the country’s biotech pioneer, 60-year old Shaw is chairperson of Biocon Ltd, an integrated healthcare firm, delivering bio-pharmaceutical solutions.

Ambani, who has been spearheading the institute since 2005, was re-appointed in 2010 as chairman of the institute’s board till 2015.

Ambani conveyed his decision to withdraw from the post at a board meeting here