MAM
Pidilite onboards Sudhanshu Vats as deputy managing director
Mumbai: Pidilite Industries Ltd on Thursday announced the appointment of Sudhanshu Vats as deputy managing director, effective from 1 September.
An alumnus of IIM-Ahmedabad and NIT Kurukshetra, Vats has a rich career of 30 years spanning diverse organisations like Unilever, Castrol, Viacom18, and more recently, EPL (formerly known as Essel Propack). Sudhanshu is a Member CII National Manufacturing Council. He had served as the chairman of National Media and Entertainment Committee of CII from April 2014 to March 2020 and director & vice president of Indian Broadcasting Foundation from September 2012 to April 2020.
“Sudhanshu is a welcome addition to Pidilite’s leadership team. His talent and experience will be of great value to Pidilite,” said Pidilite’s executive chairman M.B.Parekh.
“I am delighted to welcome Sudhanshu to Pidilite. His varied experience and passion and energy for building a sustainable growth business will be an important asset in building the Pidilite of the future,” said Pidilite MD Bharat Puri.
“I am deeply honoured to partner with Madhukar Parekh and Bharat Puri in the next phase of Pidilite’s journey,” said Sudhanshu Vats on his new role. “I would like to thank the Board for giving me this opportunity. Pidilite is an outstanding organization and an exemplary corporate citizen helping people from all walks of life add magic to their world with its iconic brands and pioneering technology. I am excited about working closely with the talented Pidilite team to create sustainable long-term value for all our stakeholders.”
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.
