Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations) and further to letter Ref. No.CO:CS:RC:2023-24:266 dated January 16, 2024, DCB Bank has informed that on recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank at its meeting held today, on March 21,2024, has approved the appointment of Praveen Achuthan Kutty (DIN: 10329590) as an Additional Director with effect from April 29, 2024 till the ensuing Annual General Meeting of the Bank or till the date of obtaining shareholders' approval whichever is earlier. He is also appointed as the Managing Director & CEO (MD & CEO) of the Bank for a period of three (3) years with effect from April 29, 2024 to April 28, 2027 on such remuneration as approved by RBI, subject to the shareholders' approval. The brief profile of Kutty is attached as per Annexure I. Further, the Board has also resolved that Kutty by virtue of his appointment as the MD & CEO of the Bank, shall be considered as Whole-time Key Managerial Personnel (KMP) of the Bank in accordance with the Companies Act, 2013 & rules made thereunder and SEBI Listing Regulations and Material Risk Taker (MRT) in accordance with the Compensation Policy of the Bank & relevant RBI guidelines. The Bank will seek approval of the Shareholders of the Bank for the said appointment within the prescribed time period, as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations. Kutty is not debarred from holding office of director by virtue of any SEBI order or any other such authority and he is not related to any director of the Bank.
The above information is a part of company’s filings submitted to BSE.