Max Financial Services Limited has informed the Exchange regarding 'Extension of term of appointment of Mr. V. Krishnan, as the Manager (KMP) under the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations'.
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Max Financial Services Limited's Board meeting on May 12, 2026, announced multiple changes: (1) Mr. Mitsuru Yasuda resigned as Non-Executive Non-Independent Director due to internal re-assignment at Mitsui Sumitomo Insurance Co. Ltd (MSI), effective from close of business on May 12, 2026; (2) Mr. Toru Nakabayashi has been appointed as Additional Director (Non-Executive Non-Independent) effective May 13, 2026, nominated by MSI to replace Mr. Yasuda under existing agreements, holding office until the next AGM; (3) Mr. V. Krishnan's term as Manager (KMP) has been extended by 2 years from July 1, 2026, subject to shareholder approval; (4) M/s MGC & KNAV Global Risk Advisory LLP has been reappointed as Internal Auditors for FY 2026-27.
The director change reflects continuity in the MSI partnership with no governance concerns. The KMP extension ensures management stability. Overall impact on shareholders appears neutral as these are routine governance changes.