City Union Bank Limited has informed the Exchange regarding Notice of Postal Ballot
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City Union Bank has sent a Postal Ballot notice to shareholders seeking approval for four items via remote e-voting from March 5, 2026 to April 3, 2026. The first item is the appointment of K. Subramanian, a former TCS Global Head, as Independent Director until June 30, 2030. The second item is the elevation of R. Vijay Anandh from Executive Director to Managing Director & CEO for 3 years effective May 1, 2026, with a fixed pay of Rs. 2.50 crore per annum. The third item seeks ratification of a salary hike for current MD & CEO Dr. N. Kamakodi from Rs. 236.50 lakh to Rs. 261 lakh per annum, effective May 1, 2025. The fourth item is a pay raise for R. Vijay Anandh in his current role as Executive Director from Rs. 206.57 lakh to Rs. 228 lakh per annum, effective June 24, 2025. All salary revisions have prior RBI approval.
The key change is the leadership transition at the top, with R. Vijay Anandh set to replace long-serving Dr. N. Kamakodi as MD & CEO from May 2026, bringing in a retail banking-focused leader. The upward revision of CEO and ED pay is modest and already RBI-approved, so share price impact is likely limited.