Manappuram Finance Limited informed that, as recommended by the nomination compensation and corporate governance committee, board of directors have approved the following changes in the senior Management of the company vide resolution passed through Circulation dated July 21, 2023. Accepted the resignation of Mr. Shyju K, Head HR of the Company. Mr. Shyju K is leaving the job to join in Asirvad Micro Finance Ltd, Subsidiary of the Company, as its HR Head.

Apart from that there is no other material reason behind the resignation. Transfer & appointment of Mr. Binesh P P, General Manager-operation, as the Head HR of the Company. Transfer & Appointment of Mr. Sreejesh.S.R, Sr.Assistant General Manager- Commercial Vehicle Finance Division, as the Head Operations of the Company in the grade of Deputy General Manager.

These board changes are effective on July 24, 2023. Mr. Binesh P P Aged 41 Years, is a commerce graduate with an MBA degree. He is currently GM and Head of Operations and is already designated as an SMP being the Head of operations.

The appointment will therefore be a change of portfolio from Operations Head to HR Head (with no change in grade) .Mr. Binesh has joined the company as Junior Asst in 2006 and has worked in diverse roles in branches outside Kerala, in various departments and verticals and currently occupies the position of General Manager operations which is a designated SMP role. Mr. Binesh has been delivering consistently good performance in all the roles he has been with the Company. He has also been exposed to periodical training in various fields.

Mr. Binesh has extensive experience in frontline operations in GL and other verticals. All these roles involved significant understanding of management of the work force at different roles. Management believes that the experience that he brings to the table will help in his new role as the Head of HR.

Mr.Sreejesh SR Aged 38 Years is a Post graduate (MBA) and currently is the Senior Assistant General Manager -Commercial Vehicle Finance Division, of Manappuram Finance Limited. Mr. Sreejesh has joined the company as Junior Asst in 2007 and has worked in several branches including branches outside Kerala. Besides he has also worked in important departments in responsible capacities and is currently the Senior Assistant General Manager in the Commercial Vehicles Division.

The performance of Mr. Sreejesh has always been quite good and he has been receiving regular promotions in the Company. He has good understanding of the operations of most of the segments and verticals. He has also undergone series of training also at periodical intervals to equip and update him to face the challenges in the business.

Mr. Sreejesh has long experience in hands on operations in all the segments of businesses. Management believes that his experience and his overall performance so far makes him a good candidate to be considered for the Head of operations.