City Union Bank Limited has successfully concluded its postal ballot process, with shareholders approving four critical resolutions through remote e-voting. The bank announced the results on April 6, 2026, following the completion of the voting period that ran from March 5 to April 3, 2026.

Key Resolutions Approved

Shareholders demonstrated strong confidence in the bank's leadership decisions by approving all four proposed resolutions with substantial majorities:

Leadership Appointments

The most significant development involves the appointment of Shri R. Vijay Anandh (DIN 09656376), currently serving as Executive Director, to the position of Managing Director & CEO effective May 1, 2026. This appointment comes with associated remuneration packages and received approval from 99.83% of voting shareholders.

Additionally, shareholders approved the appointment of Shri K. Subramanian (DIN 11519754) as an Independent Director on the bank's Board. This special resolution garnered support from 99.69% of the votes cast.

Remuneration Revisions

The postal ballot also addressed remuneration adjustments for key executives, both previously approved by the Reserve Bank of India (RBI). Shareholders endorsed the revision of fixed remuneration for Dr. N. Kamakodi (DIN 02039618), the bank's MD & CEO, effective May 1, 2025, with 99.84% approval. Similarly, the remuneration revision for Shri R. Vijay Anandh as Executive Director, effective June 24, 2025, received 99.84% shareholder support.

Voting Participation and Process

The e-voting process demonstrated significant institutional participation, with comprehensive engagement across shareholder categories:

The voting process was conducted entirely through remote e-voting facilitated by National Securities Depository Limited (NSDL), with no physical or video conference participation recorded. The bank had 216,751 shareholders on record as of December. V. Sankar, Partner at KUVS & Associates Company Secretaries, served as the appointed scrutinizer for the postal ballot process, ensuring transparency and compliance with regulatory requirements under the Companies Act, 2013 and SEBI regulations.

The scrutinizer's report confirmed that e-votes were unblocked on April 3, 2026, after the closing hour of 5.00 PM in the presence of two independent witnesses, maintaining the integrity of the voting process.

City Union Bank Limited has announced a senior management transition with the retirement of its Chief Risk Officer due to superannuation. The bank communicated this change to stock exchanges under Regulation 30 of SEBI listing requirements, ensuring transparency in corporate governance.

Management Transition Details

The bank's current Chief Risk Officer, Kalyanaraman M, demitted his office on March 31, 2026, marking the end of his tenure due to superannuation. This transition was part of a planned succession, as the bank had previously announced the appointment of his successor.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Schedule III Part A, Para A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank referenced its earlier communication dated March 23, 2026, regarding the appointment of Venkatakrishnan S as the new Chief Risk Officer.

Succession Planning

City Union Bank had proactively announced the appointment of Venkatakrishnan S as Chief Risk Officer for a period of two years effective April 1, 2026. This seamless transition ensures continuity in the bank's risk management function without any operational disruption.

The bank's communication to both NSE and BSE demonstrates its commitment to maintaining transparency with stakeholders and adhering to regulatory disclosure requirements for senior management changes.