Federal Bank: AGM Approves Re-appointment of MD, CEO & Independent Director; Appoints Joint Auditors
Federal Bank's 95th AGM on August 21, 2026, approved re-appointments and auditor changes. Mr. Krishnan Venkat Subramanian was re-appointed as MD & CEO. Mr. Sankarshan Basu was re-appointed as Independent Director for a second term (Oct 1, 2026 - Sep 30, 2029). M/s. Price Waterhouse LLP and M/s. K. S. Aiyar & Co. were appointed as Joint Statutory Auditors for three years.
The re-appointment of the MD & CEO and an Independent Director for a defined term provides leadership stability. The appointment of joint statutory auditors is a routine governance process but crucial for financial oversight.
The re-appointment of key management personnel and independent directors, along with the appointment of auditors, indicates stability and continuity within the bank's leadership and governance.
The Federal Bank Limited announced that its members approved key matters at the 95th Annual General Meeting (AGM) held on August 21, 2026.
The members re-appointed Mr. Krishnan Venkat Subramanian (DIN: 00031794) as the Managing Director & Chief Executive Officer of the Bank, who was retiring by rotation. Mr. Subramanian's re-appointment as MD & CEO is for a period of 3 years effective September 23, 2024, pursuant to approvals from the Reserve Bank of India and shareholders.
Additionally, Mr. Sankarshan Basu (DIN: 06466594) was re-appointed as an Independent Director for a second term of three years, commencing October 01, 2026, and concluding on September 30, 2029. He will not be liable to retire by rotation.
The AGM also approved the appointment of M/s. Price Waterhouse LLP, Kolkata, and M/s. K. S. Aiyar & Co., Mumbai, as the Joint Statutory Auditors of the Bank. This appointment is for a period of three years, starting from the conclusion of the 95th AGM until the conclusion of the 98th AGM, subject to annual approval from the RBI.
The bank confirmed that none of the appointed directors are debarred from holding such office by any SEBI order or other authority. The AGM commenced at 11:00 am and concluded at 11:56 am on August 21, 2026.
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