ICICI Prudential Asset Management Company Limited has informed the Exchange regarding Outcome of Board Meeting held on April 27, 2026.
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The Board of Directors approved the appointment of Mr. Prashant Kumar as an Additional Director in the category of Independent Director for a term of five years (May 1, 2026 to April 30, 2031). His appointment is subject to shareholder approval and regulatory compliance. Mr. Kumar brings extensive banking experience, having served as MD & CEO of YES BANK post its reconstruction in 2020 until April 2026, and previously as Deputy MD & CFO of State Bank of India for 34 years. The appointment enhances the board's governance with a professional having deep financial sector expertise.
The appointment adds experienced banking leadership to the board, which could strengthen governance and strategic oversight for the asset management company. This is a routine governance update with positive implications for corporate oversight quality.