Yes Bank board recategorises two board members as nominee directors

Yes Bank on Thursday said it has recategorised two non-executive non-independent directors as nominee directors on its board following a resolution passed at its EGM.

The private sector lender had appointed T Keshav Kumar and Sandeep Tewari as non-executive non-independent directors on its board with effect from July 15, 2022.

Following a resolution passed in the Extraordinary General Meeting (EGM) held on August 24, 2022, and recommendations from SBI, the board of directors has approved recategorisation of Kumar and Tewari as nominee directors with effect from August 25, 2022, Yes Bank said in a regulatory filing.

Tewari, deputy managing director (Internal Audit) at SBI, has expertise in strategic governance, evaluation of business operations as well as risk managemnent.

Kumar is an ex-banker with over 37 years of experience in SBI. He worked in various departments, including retail, commercial audit, project finance, risk management and treasury, among others. He retired as the deputy managing director of SBI in September 2021.

Yes Bank stock closed at Rs 16.50 apiece on BSE, down by 0.72 per cent from previous close.

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