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Livspace names Abhishek Gupta as new CFO
MUMBAI: Livspace has roped in seasoned finance leader Abhishek Gupta as its new chief financial officer, signalling a sharper focus on discipline as the home interiors major steps on the growth accelerator.
Gupta will steer Livspace’s financial strategy, planning, transformation and corporate governance, while partnering the leadership team on key strategic moves. In simple terms, he will be the numbers man making sure big ideas land on solid ground.
With over two decades of experience, Gupta is no stranger to fast-growing consumer and digital businesses. Most recently, he was CFO at Myntra, where his remit stretched beyond balance sheets to include risk management, real estate and workplaces. Before that, he clocked senior stints at Flipkart, Unilever, Abbott and ITC, handling everything from supply chain finance to large-scale business transformations.
Livspace founder and CEO Ramakant Sharma, said the appointment comes at a pivotal moment. As the company scales, he noted, financial rigour and clarity become essential growth tools. Gupta’s track record across retail, e-commerce and supply chain-led models is expected to strengthen controls and sharpen decision-making.
Gupta, for his part, sees finance as more than a reporting function. He said Livspace operates in a complex category where design flair meets on-ground execution, making strong financial foundations critical. His focus, he added, will be on building clarity, discipline and resilience, helping the business bring predictability to a dynamic environment.
A Chartered Accountant, Gupta holds a bachelor of commerce degree from St. Xavier’s College, University of Calcutta. He has earned multiple industry accolades over the years, including the CFO of the Year award in the digital and e-commerce sector for 2024-25 from bodies such as CII and Assocham. He is also a member of the national CFO Council at Ficci and Assocham.
With Gupta stepping in, Livspace appears keen to prove that even in the creative world of home interiors, good design works best when the numbers add up.
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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.
