Thu. Mar 28th, 2024

Yes Bank announced on Monday it has appointed Sharad Sharma as a non-executive director with effect from November 1, 2021. ”Sharad Sharma has been co-opted as a non-executive director of the board of the bank with effect from November 1, 2021, to broad base the board,” Yes Bank said in a release.

“Sharma will continue to hold his office until an “alternate board” is constituted by the bank in accordance with the procedure laid down in its Memorandum and Articles of Association,” Yes Bank said in a regulatory filing.

“He will be eligible to be appointed on the ‘alternate board’ to be constituted under the Scheme with the approval from shareholders in due course,” it said.

The decision comes to vide a notification from the Finance Ministry under the ‘Yes Bank Ltd Reconstruction Scheme 2020’.

Previously Sharma worked as the Managing Director of State Bank of Mysore during the period from August 2012 to April 2016, where he was seconded from State Bank of India (SBI). He joined the Union Bank of India as a probationary officer in 1975 before joining SBI as PO in September 1977. He has been in the banking industry for the past 40 years with a wide range of experience.

Sharma held various assignments across all fields of a banking organisation, including exposure to international banking, when he was posted in SBI’s 100 per cent owned Canadian banking subsidiary.

His major interest has been primarily in the corporate and SME banking segment.

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