A few days back, Shagun Gogia got a joint nomination from Yes Bank’s Co-Founder and former Managing Director and Chief Executive Officer Rana Kapoor as well as mother Madhu Kapur, who inherited the promoter holding from her late husband Ashok Kapur.
She is now one of the representative directors of the Indian partners of the bank.
The bank has also appointed Ravinder Kumar Khanna as a non-executive, non-independent director on the board after joint nomination from both promoter families.
Another director is yet to be decided by the board.
Since 2013, mother Madhu Kapur had been fighting the legal battle. While she claimed that after her husband Ashok Kapur’s death, daughter Shagun Gogia should have been given a seat on the board. At that point in time, however, Rana Kapoor, who was then heading the bank, as well as members of the board held the view that she did not have the requisite experience.
Later in 2015, the Bombay High Court ruled in favor of the Kapur family and said that the promoters must jointly nominate three directors on the board.
After going back and forth for all these years, Shagun has finally made it to the board. She now has the responsibility on her shoulder to fulfill the expectations of the people who have chosen her and believe in her. How she plays an influential role in the future and helps the bank navigate through current and upcoming challenges is something to look forward to.