City Union Bank Limited has informed the Exchange regarding Change in Director(s) of the company.
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City Union Bank has appointed Shri R Mohan as an Additional Director on the Board in the category of Independent Director, effective April 27, 2026. The appointment is subject to shareholder approval within three months as per SEBI Listing Regulations. Shri R Mohan, aged 71 years, is a B.Sc, CAIIB, MBA with 39 years of banking experience. He joined the bank as a Probationer in May 1975 and retired as Chief General Manager in May 2014. He previously served on the bank's Board from June 2014 to June 2022, including three years as part-time Chairman from May 2019 to May 2022. His areas of expertise include Banking, Agriculture, Rural Economy, Small Scale Industry, Finance, Treasury, Forex, and Business Management. He is not related to any existing directors on the Board.
This is a routine board strengthening exercise. Shri R Mohan brings extensive internal banking experience as a former senior executive and Chairman. The appointment of an Independent Director is positive for governance standards. The stock may see a neutral to slightly positive的反应 from investors, as no resignations or governance concerns are involved.