IDFC FIRST Bank’s Board of Directors has approved the appointment of Mr. S. Ganesh Kumar as the Part-Time Non-Executive Chairperson, effective May 10, 2027, for a term until April 29, 2029. The board also re-appointed Mr. Pradeep Natarajan as Whole-Time Director for three years from June 1, 2027. Additionally, Mr. Aashish Kamat will cease to be an Independent Director on December 17, 2026, upon completing his tenure.
Board Leadership Changes at IDFC FIRST Bank
IDFC FIRST Bank has announced significant changes in its board leadership following a meeting held on October 24, 2026. The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, has approved key appointments and cessations, aiming to strengthen its governance structure.
New Part-Time Non-Executive Chairperson Appointed
The term of the current Part-Time Non-Executive Chairperson, Mr. Sanjeeb Chaudhuri, is set to expire on May 9, 2027. In his place, the Board has approved the appointment of Mr. S. Ganesh Kumar, an existing Independent Director, as the new Part-Time Non-Executive Chairperson. This appointment is effective from May 10, 2027, and will continue until April 29, 2029, aligning with the expiry of his current term as an Independent Director. This appointment is subject to the necessary approvals from the Reserve Bank of India (RBI) and other regulatory authorities.
Re-appointment of Whole-Time Director
In a move to ensure continuity in its executive leadership, the Board has also approved the re-appointment of Mr. Pradeep Natarajan as a Whole-Time Director, designated as Executive Director. His tenure will be extended for a further period of three years, commencing from June 1, 2027, up to May 31, 2030. This re-appointment is also contingent upon receiving the approval of the RBI and other applicable statutory and regulatory bodies.
Cessation of Independent Director
The Board acknowledged the completion of tenure for Mr. Aashish Kamat as an Independent Director. His cessation from the Board will be effective from the close of business hours on December 17, 2026. This marks the end of his second term and the maximum permissible tenure for a non-executive director as per the Banking Regulation Act, 1949, and related RBI Directions. The Board extended its sincere gratitude to Mr. Kamat for his valuable guidance and significant contributions during his service.
Meeting Details
The Board Meeting commenced at 10:00 a.m. and concluded at 02:45 p.m. on October 24, 2026.
Source: BSE
