WASHINGTON, D.C.(TIP): The U.S.-India Business Council (USIBC) Board of Directors announced that Mr. John T. Chambers, Executive Chairman of Cisco, has been elected as the Council’s next Chairman. The formal announcement of the appointment was made at the Council’s 40th Anniversary Leadership summit that kicked off the U.S.-India Strategic and Commercial Dialogue.

The transition will come at the end of a four-year term by Ajay Banga, President and CEO of MasterCard. Mr. Banga has been the Council’s longest-serving Chairman.

“On behalf of the USIBC Board, it’s my privilege to announce and to welcome USIBC’s incoming chairman, John Chambers. John will of course be building on USIBC’s 40-year legacy which we’re celebrating tonight. We look forward to working with John and supporting him as his tenure officially begins the first of next year,” said Ajay Banga through a video message at the Council’s 40th Anniversary Leadership Summit.

“As a longtime supporter of USIBC, I have witnessed the Council’s influence rise dramatically as a direct result of the leadership provided by current chairman, Ajay Banga, and former chairs such as Terry McGraw and Indra Nooyi,” said John Chambers. “It is an exceptional honor to be entrusted with such a legacy and I look forward to building on their successes as USIBC’s next Chairman. With Prime Minister Modi’s upcoming visit to the Silicon Valley, the important focus on building a digitally empowered nation through Digital India and the ongoing strategic and commercial dialogue, it is an exciting time to join the Council.”

“We are grateful for Ajay’s leadership and commitment to furthering U.S.-India ties over the last four years. During his tenure, he blazed an equally impressive path by adding top American and Indian companies to the Council’s membership, increasing Council revenue and adding staff capacity at the Council’s regional offices to serve members. Due to Ajay’s leadership, the Council’s board of directors now includes 14 global Presidents and CEOs. The Council and its board are delighted to welcome John Chambers as the new Chairman. His global business acumen will be instrumental as we move forward to realize the full potential of U.S.-India relations. I look forward to working closely with John and the USIBC board to build on the Council’s proud, 40-year history,” said Mukesh Aghi, President of USIBC.