IndusInd Bank has announced significant leadership changes, effective April 24, 2026. The Board of Directors has appointed Mr. Nilesh Shivji Vikamsey and Mr. Ravindra Babu Garikipati as Independent Directors for a four-year term. Simultaneously, the bank has elevated Mr. Ganesh Sankaran and Mr. Jagdeep Mallareddy to Executive Director roles, strengthening the bank’s governance and senior management structure as they transition into new leadership responsibilities.
Strengthening Board Composition
As part of its long-term governance strategy, IndusInd Bank has appointed two new Independent Directors. Mr. Nilesh Shivji Vikamsey, a Chartered Accountant with over 40 years of experience, and Mr. Ravindra Babu Garikipati, a technology executive with over 35 years of industry expertise, will serve on the Board for a four-year term ending April 23, 2030.
Executive Leadership Elevation
The bank is also refining its executive management team. Mr. Ganesh Sankaran, currently overseeing Wholesale Banking, and Mr. Jagdeep Mallareddy, leading Consumer Banking, have been appointed as Additional Directors in the category of Whole-time Directors for a three-year period. These appointments, subject to final regulatory and shareholder approval, aim to leverage their extensive experience in retail and wholesale banking to drive the bank’s future growth.
Transition and Designate Roles
To facilitate a smooth leadership transition, both Mr. Sankaran and Mr. Mallareddy have been re-designated as Executive Director – Designate, effective April 24, 2026. They will serve in this capacity until their formal roles as Whole-time Directors and Key Managerial Personnel take full effect. These strategic appointments reflect the bank’s commitment to robust leadership and operational excellence across its core business segments.
Source: BSE
