ICICI Prudential Asset Management Appoints Mr. Prashant Kumar as Additional Independent Director

ICICI Prudential Asset Management Appoints Mr. Prashant Kumar as Additional Independent Director​

ICICI Prudential Asset Management Company Limited announced that its Board of Directors, during a meeting held on April 27, 2026, approved the appointment of Mr. Prashant Kumar as an Additional Director and Independent Director.

The appointment details specify a term of five years, commencing from May 1, 2026, and concluding on April 30, 2031. The nomination and remuneration committee recommended the appointment, which remains subject to the subsequent approval of the Company's members and adherence to applicable guidelines.

ICICI Prudential Asset Management Company Limited affirmed that Mr. Prashant Kumar is not debarred from holding the office of Director by any authority. Furthermore, the Company disclosed that there were no relationships between the director and the Company.

Appointment Details Summary​

A review of the appointment details reveals the following structure:

Professional Background​

Mr. Prashant Kumar brings extensive financial sector experience to the board. Prior to his current appointment, he served as the Managing Director & Chief Executive Officer of YES BANK Limited (Bank) following the bank's reconstruction in March 2020. During his tenure at YES BANK, he led a systematic transformation that saw the bank emerge as an energized, recapitalized, and recalibrated organization. His leadership was instrumental in repaying the Reserve Bank of India's Special Liquidity Facility, raising equity capital, and improving the bank's balance sheet. Notably, during his time there, Sumitomo Mitsui Banking Corporation (SMBC) became the strategic partner of YES BANK by acquiring a 24.9% stake in September 2025.

Before joining YES BANK Limited, Mr. Kumar served at State Bank of India (SBI), India's largest bank, where he held the position of Deputy Managing Director & CFO. His career with SBI spanned 34 years, beginning when he joined as a Probationary Officer in 1983. His key assignments included roles such as Deputy Managing Director (HR) & Corporate Development Officer, Deputy Managing Director & Chief Operating Officer, Chief General Manager (Kolkata Circle), General Manager (Local Head Office Mumbai), and DGM (Industrial relations). He also served as a faculty member at SBI's Apex Training Institute, State Bank Academy, Gurugram. Mr. Kumar holds degrees in science and law from Delhi University.

ICICIAMC Stock Price Movement​

As of 3:29 PM, shares of ICICI Prudential Asset Management Company Limited are shedding 0.45% in live trading, currently trading at ₹3278.5. The equity has seen active participation today, with 153,757 shares recorded in the total traded volume.