City Union Bank Limited has informed the Exchange regarding Cessation of Shri V N Shivashankar and Dr T S Sridhar as Non- Executive Independent Director of the Bank w.e.f. February 06, 2026.
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Awaiting price reaction for this filing.
City Union Bank has informed the stock exchange that two of its Non-Executive Independent Directors — Shri V N Shivashankar and Dr T S Sridhar — have ceased to hold their positions on the board with effect from February 06, 2026. The announcement does not specify the reasons for their departure, such as completion of term, resignation, or other factors. Both directors were serving in a non-executive oversight capacity, and the bank has not yet announced their replacements in this filing. Investors may want to track any subsequent announcements regarding new appointments to the board to assess continuity of governance.
The departure of two independent directors at the same time may raise short-term governance concerns, but the stock price impact is likely limited unless the cessations are linked to regulatory or performance issues. Watch for follow-up filings on board reconstitution.