Max Financial Services has announced significant leadership changes, including the resignation of Mr. Mitsuru Yasuda as a Non-Executive Non-Independent Director effective May 12, 2026. Consequently, Mr. Toru Nakabayashi has been appointed to the board as an Additional Director, effective May 13, 2026. Furthermore, the company has extended the term of Mr. V. Krishnan as Manager for another two years and re-appointed its internal auditors for the upcoming fiscal year.
Board Composition Update
The company has confirmed that Mr. Mitsuru Yasuda will step down from his role as a Non-Executive Non-Independent Director at the close of business on May 12, 2026, citing internal personnel re-assignment and professional commitments at Mitsui Sumitomo Insurance Company Ltd. To ensure continuity, Mr. Toru Nakabayashi has been appointed as an Additional Director, representing Mitsui Sumitomo Insurance, effective May 13, 2026.
Strategic Leadership Extension
The Board has approved the extension of Mr. V. Krishnan’s appointment as the Manager of the company. Subject to shareholder approval, this extension will span a further two years, beginning on July 1, 2026. Mr. Krishnan brings over 34 years of experience in the Max Group, having been instrumental in managing regulatory, secretarial, and compliance matters since joining in 1992.
Operational Governance
In addition to leadership changes, the company has finalized its audit oversight for the upcoming year. M/s MGC & KNAV Global Risk Advisory LLP has been re-appointed to serve as the Internal Auditors for the 2026-27 financial year, ensuring continued diligence in the company’s internal risk management and financial control processes.
Source: BSE
