As per the disclosure attached
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Max Financial Services Limited announced multiple board and management updates. Mr. Mitsuru Yasuda resigned as Non-Executive Non-Independent Director effective May 12, 2026, citing internal personnel re-assignment at Mitsui Sumitomo Insurance Company Ltd (MSI). He is being replaced by Mr. Toru Nakabayashi, who has been nominated by MSI and appointed as Additional Director from May 13, 2026, pending shareholder confirmation at the AGM. Nakabayashi brings over 20 years of insurance experience across Japan, Indonesia, and Malaysia. Separately, Mr. V. Krishnan's term as Manager (KMP) has been extended by 2 years from July 1, 2026, subject to shareholder approval. Internal auditor MGC & KNAV Global Risk Advisory LLP has been re-appointed for FY 2026-27.
The board change represents continuity in MSI's representation on the board with a qualified insurance professional. The KMP re-appointment ensures management stability. Overall, these are routine governance updates with minimal direct impact on stock price.