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Max Financial Services' Board announced several personnel changes at its May 12, 2026 meeting. Mr. Mitsuru Yasuda resigned as Non-Executive Non-Independent Director due to internal reassignment at Mitsui Sumitomo Insurance (MSI), effective from close of business on May 12. He was replaced by Mr. Toru Nakabayashi, also nominated by MSI, who brings over 20 years of insurance experience across Japan, Indonesia, and Malaysia. The Board also extended Mr. V. Krishnan's tenure as Manager (KMP) for another 2 years from July 1, 2026, pending shareholder approval. Internal auditors MGC & KNAV Global Risk Advisory LLP were re-appointed for FY 2026-27. The board meeting lasted 30 minutes.
The changes represent routine governance updates with continuity in key management roles. The director replacement maintains MSI's board representation without disrupting operations. The KMP extension ensures stability in regulatory compliance functions.