Reserve Bank of India (RBI) has approved a six-month extension of Prashant Kumar, the managing director and chief executive officer of YES BANK, which will be effective from October 6, or until a new CEO and MD is appointed.
Kumar’s three-year tenure ends in October, and on May 13, Yes Bank announced that they had appointed global recruitment firm Egon Zehnder to identify a successor.
Kumar was appointed as MD & CEO of Yes Bank post reconstruction of the bank in March 2020. He had been reappointed in October 2022 for a further period of three years.
Prior to joining Yes Bank, Kumar was deputy managing director and chief financial officer of State Bank of India (SBI). Kumar joined the SBI as a probationary officer in 1983, and during his 34 years of service with SBI, he has held various key positions, including deputy MD (human resources) and corporate development officer, deputy MD and chief operating officer, and chief general manager.
