Max Financial Services Limited has informed the Exchange regarding Cessation of Mr. Mitsuru Yasuda as Non- Executive Director of the company w.e.f. May 12, 2026.
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Max Financial Services announced the resignation of Mr. Mitsuru Yasuda as Non-Executive Non-Independent Director effective May 12, 2026. The resignation is due to internal personnel re-assignment at Mitsui Sumitomo Insurance Company Ltd. (MSI), his nominating entity. Simultaneously, Mr. Toru Nakabayashi has been appointed as Additional Director (Non-Executive Non-Independent) effective May 13, 2026, also nominated by MSI to replace Mr. Yasuda. The board also extended Mr. V. Krishnan's term as Manager (KMP) for 2 years from July 1, 2026 (subject to shareholder approval) and reappointed M/s MGC & KNAV Global Risk Advisory LLP as Internal Auditors for FY 2026-27.
This represents a routine board change as MSI rotates its nominee director. The appointment of Mr. Toru Nakabayashi, a seasoned insurance executive with Asia Pacific experience, maintains MSI's strategic oversight on the board. Minimal impact on stock, as this is a non-material governance change involving a non-executive nominee director.