Company Announcements

Disclosure under Indian Listing Regulations

Source: RNS
RNS Number : 1031K
YES Bank Limited
30 August 2021
 

YBL/CS/2021-22/Int/007

 

August 30, 2021

 

India International Exchange IFSC Limited

101 First Floor, Hiranandani Signature Tower,

GIFT City IFSC - 382355, Gujarat, India

The Singapore Exchange Securities Trading Limited

2, Shenton Way #19-00

SGX Centre 1, Singapore 068804

 

The London Stock Exchange

10, Patemoster Square,

London, EC4M 7LS


 

Dear Sirs,

 

Sub: Disclosure under Indian Listing Regulations - Co-option of Directors under the Yes Bank Limited Reconstruction Scheme, 2020.

 

This is to inform you that as permitted under Clause 5(5) of the 'Yes Bank Limited Reconstruction Scheme, 2020' notified by the Ministry of Finance, Government of India vide notification No. G.S.R. 174(E) dated March 13, 2020 ("Scheme"), (i) Mr. Atul Malik and (ii) Ms. Rekha Murthy have been co-opted as Non-Executive Directors on the Board of the Bank with effect from August 30, 2021 to broad base the Board.

 

As per Clause 5 (7) of the Scheme, the Directors so co-opted, shall continue to hold their office until an "Alternate Board" is constituted by the Bank in accordance with the procedure laid down in its Memorandum and Articles of Association. Further, the above Directors shall be eligible to be appointed on the "Alternate Board" to be constituted under the Scheme with the approval from Shareholders in due course.

 

The brief profiles of the aforesaid Directors are given in Annexure 1.

 

Further, please note that Mr. Atul Malik and Ms. Rekha Murthy are not related to any other Directors or Key Managerial Personnel of the Bank AND they are not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority.

 

Kindly take note of the above.

 

Thanking you,

 

Yours faithfully,

For YES BANK LIMITED

 

Shivanand R. Shettigar

Company Secretary

 

Encl: As above

 

Annexure 1

 

Brief Profile of the Directors appointed pursuant to the Scheme:

 

1.   Mr. Atul Malik, Non-Executive Director

 

Mr. Malik is a veteran banker with more than 30 years of widespread experience. Mr. Malik is currently a Senior Advisor to TPG for their financial services portfolio. He represents TPG as the Chairman of UBC, one of the largest private sector banks in Sri Lanka.,

 

Previously, he was a Senior Advisor to General Atlantic for their financial services portfolio.

 

Prior to joining General Atlantic, he was the CEO of Maritime Bank, one of the largest private banks in Vietnam, from 2012 to 2015 and a Senior Advisor to Asia Capital & Advisors, a boutique private equity firm, from 2011 to 2012.

 

Between 2007 and 2011, he was the Managing Director/Regional Head Asia - Private and Business Clients of Deutsche Bank with operations covering India, China and Vietnam. During this period, he was also a member of the DB Asia Pacific Executive Committee and the Global Private and Business Clients (PBC) Executive Committee, and was nominated as the Non-Executive Director of DB China Ltd.

 

During his 20-year-long career at Citibank that commenced in 1988 with Citibank India, Mr. Malik held a variety of senior roles., the last of which was as the Chief Executive Officer of Citibank Hong Kong (2004 to 2007).

 

Mr. Malik holds a Master's Degree in Business Administration from the Rice University, USA (1987) and B Tech Degree from IIT Bombay (1985).

 

2.   Ms. Rekha Murthy, Non-Executive Director

 

Ms. Rekha Murthy has nearly 30 years of extensive global experience in the Technology sector across India, Asia Pacific and the USA. Her professional experience spans a successful career in cross-functional operations, P&L oversight, global sales, new market development, strategic marketing and distribution. She has held senior and country leadership roles at leading global companies such as IBM, Harvard Business School Publishing, Wyse Technology, SAP, PeopleSoft, Digital Equipment Corporation and Korn Ferry International.

 

She is currently engaged with start-ups in an advisory role and as a mentor.

 

Her areas of interest are building leadership and management skills, global strategy, business and technology transformation and change management. She has extensive experience in advising and providing technology solutions to large enterprises across industries.

 

Ms. Murthy is an alumna of Harvard Business School and Indian Institute of Management, Bangalore and holds a Bachelor's degree in Engineering, Electronics and Telecommunications from Bangalore University.

 

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