MAM
Modenik Lifestyle strengthens its leadership team
Mumbai: Modenik Lifestyle has announced the expansion of its management team with the joining of Suryanarayana GV as its chief information officer (CIO) and Utkarsh Thakur as the head of marketing for the men’s Category.
The new CIO, Suryanarayana GV, an alumnus of Birla Institute of Technology and Science (BITS), Pilani, has over two decades of industry experience in Oil, Gas, Power & Renewables, where he successfully implemented IT Strategies, Business Transformation, and has rolled out large scale IT projects to drive business-focused success. Over the years he has worked with various renowned brands including Cairn Energy India and Tata Power. At Modenik, he will be responsible for driving effective digital transformation enabling a future-ready organisation.
Utkarsh Thakur joins Modenik as the head of marketing for the men’s category. He comes with a diverse experience of 20 years in marketing and has expertise in consumer understanding, brand management, product portfolio management, sales management, communication, and media along with exposure to Asian markets. Over the years he has worked for the WPP Group, the Bennett Coleman Group and Titan Company Limited. At Modenik Lifestyle, he will be helming marketing for the men’s brands – Dixcy Scott & Levi’s and Dixcy Scott’s women’s product Slimz. He will help the brands accelerate their growth across categories and geographies.
Commenting on the appointments, Modenik Lifestyle Executive Chairman Sunil Sethi said, “We are pleased to welcome both Suryanarayana and Utkarsh to our management team. Their joining comes at a pivotal moment in our journey as we aim to accelerate our growth into a sustainable and collaborative ecosystem.” Sunil further said, “Suryanarayana’s decades of expertise in the technology sector is of immense value to us enabling us to accelerate both the innovation and impact of seamless integration of IT. Utkarsh has a wide array of experience in the consumer marketing domain, making him an invaluable asset to our leadership team.”
The newly appointed Modenik’s CIO, Suryanarayana GV said, “It gives me immense pleasure to be joining Modenik’s leadership team at a pivotal time for the brand. I look forward to working with the team to deliver innovative business IT solutions that not only meet the needs of customers and consumers today, but also give Modenik the platform to support future business growth.”
On joining Modenik as the new Head of Marketing – Men’s category, Utkarsh Thakur said, “I am excited to join the talented team at Modenik and work towards realising the ambition of making our brands the preferred choice in essential clothing. We have strong brands that can leverage the opportunity in the essential wear segment to deliver significant growth – my team and I are committed to making this happen through consumer-driven marketing.”
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
