MAM
Toyota inks deal with ESPN for Asia X Games sponsorship
MUMBAI: Toyota has inked a deal with ESPN Star Sports for sponsoring the Asian X Games Qualifier and the ESPN Junior X Games in 2003 and 2004 in Kuala Lumpur, along with the Asian Xtour.
The two-year sponsorship agreement will have Toyota enjoying regional association with the Asian X Games Qualifier and ESPN Junior X Games through a combination of multi-level integrated benefits. This includes on ground and on-air entitlements around the event as well as marketing and on-line benefits. Toyota’s renewal also extends to its presenting sponsorship of the Xtour, a series of pre-qualifiers organized to select competitors for the Asian X Games Qualifier. The Tour is the only avenue for entry into the regional competition for the respective host nation’s athletes.
ESPN will televise the Asian event to more than 140 countries and territories around the globe from March 10 onwards.
The Asian X Games Qualifier, the multi-sport competition for action sports in Asia, was first held in 1998. Between 1998 and 2000 it took place on Phuket Island, Thailand. The move from Thailand to Malaysia is part of the X Games tradition of holding the event at a new location every few years. This transition brings the X franchise to new markets around the region, developing the sport and the athletes across Asia. The recently concluded Asian X Games Qualifier IV and ESPN Junior X Games III presented by Toyota was the inaugural Kuala Lumpur event and will run through to 2004.
Showcasing nearly 300 of Asia-Pacific’s best action sport athletes the event served as a qualifier to the summer X Games VIII to be held in Philadelphia in August, the pinnacle of global action sports competition. Athletes competed in aggressive in-line skating, bicycle stunt, skateboarding, sport climbing and wakeboarding. The Junior event, inaugurated in 1999, brought together 70 children aged 14 years and under in the spirit of fun competition modelled after the senior Games.
The success of the inaugural games in Kuala Lumpur demonstrated the popularity of action sports. The event attracted athletes from more countries than ever before and saw over 90,000 visitors over its 6-day run. This is expected to rise again in 2003 and 2004.
The Asian X Games Qualifier will see the addition of one of the most popular events next year within the Summer X event – the Moto X. Although not a competitive category, it will be the first step in its inevitable inclusion into the Asian X Games Qualifers.
Announcing the continuation of the sponsorship agreement, ESS Managing Director Rik Dovey said: “We’re excited to see the continuation of Toyota’s support for the Asian X Games Qualifier presented by Toyota for the next two years, and of the Asian Xtour presented by Toyota. Their already strong involvement with action sports through sponsorship of the event this past 3 years makes this a fitting extension to a long and healthy partnership”.
Mr Dovey added: “The popularity of action sports is now at an all-time high and the Asian X Games Qualifier has quickly established itself as the ultimate goal for Asia’s action athletes. Sponsors have been quick to see the benefit of associating with the event, and we are thrilled to be able to provide them with a way to leverage its potential. Whether they are looking at an on-ground sponsorship or advertising on-air, they understand the power of the X Games in capturing the imagination of both males and females, not only between the ages of 14 years and 35 years, but of all ages.”
Explaining the importance of the partnership to Toyota, Katsuyoshi Tabata, General Manager of the Overseas Marketing Division, in Toyota Motor Corporation said, “Toyota is excited to announce its continued support for the Asian X Games Qualifier, ESPN Junior X Games and Asian Xtour. Together these three events provide Asian action sports athletes and spectators alike with the ultimate opportunity to enjoy top level competition for their chosen sports. Providing such opportunities to athletes and communities around Asia where the Toyota brand is so loyally supported is at the core of our corporate strategy; one of commitment to communities globally demonstrated through our support of action sports events, cultural and musical events or the launch of our new Formula One team.
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.
