Aavas Financiers Announces Change in Board Leadership; Mr. Vellur Gopalaraghavan Kannan Appointed as New Chairperson

Aavas Financiers Announces Change in Board Leadership; Mr. Vellur Gopalaraghavan Kannan Appointed as New Chairperson​

Aavas Financiers Limited has announced changes regarding its board composition and leadership structure following a resolution passed by its Board of Directors on July 31, 2026. The company accepted the resignation of Mr. Sandeep Tandon from his posts while appointing Mr. Vellur Gopalaraghavan Kannan to key positions within the management and governance structure.

Mr. Sandeep Tandon resigned as Chairperson and Non-Executive Independent Director of Aavas Financiers Limited, effective from the close of business hours on July 31, 2026. The resignation was attributed to personal and professional commitments. The Board expressed gratitude for Mr. Tandon's contributions during his tenure.

In response to these changes, Mr. Vellur Gopalaraghavan Kannan has been appointed as an Additional Director in the category of Non-Executive Independent Director. He will serve a term of five consecutive years, commencing from August 01, 2026, up to July 31, 2031, subject to shareholder approval. Furthermore, Mr. Kannan was approved as Chairperson of the Board of Directors with effect from August 01, 2026, for a period of one year.

Profile and Experience of New Director​

The appointment includes significant experience in the banking sector. Mr. Vellur Gopalaraghavan Kannan is described as a seasoned banking professional with over 40 years of leadership experience across the Banking, Financial Services and Insurance (BFSI) sector. His career history includes serving as Managing Director & CEO of SBI Capital Markets Ltd. Prior to this, he held senior roles within the State Bank of India (SBI). Post-retirement from SBI, he served as Chief Executive of the Indian Banks' Association (IBA) from December 2016 to December 2019.

Committee Reconstructions​

Consequent to Mr. Tandon’s resignation and Mr. Kannan’s appointment, several key Board Committees have been reconstituted with effect from August 01, 2026. The composition of these committees is as follows:

Stakeholders Relationship Committee:

IT Strategy Committee:

Nomination and Remuneration Committee:

Audit Committee:

Details of Resigning Director​

Mr. Sandeep Tandon, who resigned from the position of Chairperson and Non-Executive Independent Director, was also noted to be a Director at Syrma SGS Technology Limited (Corporate Social Responsibility Committee - Member) and 360 One Wam Limited, where he held positions such as IT Strategy Committee Chairperson, Stakeholder Relationship Committee Chairperson, and Nomination and Remuneration Chairperson.

The Board affirmed that the current composition of its directors and committees aligns with corporate requirements.

AAVAS Stock Price Movement​

Shares of Aavas Financiers Limited closed today after slipping 0.12% to settle at ₹1359.8, registering a decline of ₹1.60 from yesterday's close. The stock traded with a volume of 27,076 shares during the session.