Two board members reclassified by the Yes Bank board as nominated directors

26 Aug 2022 , 08:41 AM

Following a resolution adopted at its EGM, Yes Bank announced on Thursday that it had reclassified two of its non-executive non-independent directors as nominee directors on its board. With effect from July 15, 2022, the private sector lender named T Keshav Kumar and Sandeep Tewari to its board of directors as non-executive non-independent directors.

According to recommendations from SBI and a resolution adopted at the Extraordinary General Meeting (EGM) held on August 24, 2022, the board of directors has approved reclassifying Kumar and Tewari as nominee directors, effective August 25, 2022, according to a statement released by Yes Bank.

Tewari, SBI’s deputy managing director for internal audit, is an expert in risk management, business operations review, and strategic governance.

Kumar is a former banker who has worked for SBI for more than 37 years. He held positions in a number of divisions, including risk management, treasury, project finance, retail, and commercial audit. In September 2021, he announced his resignation as SBI’s deputy managing director.

The closing price of Yes Bank shares on the BSE was Rs16.50 per share, down 0.72% from the previous day.

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