OYO appoints former SBI chairman Rajnish Kumar as Strategic Group Advisor

IPO bound OYO has announced the appointment of Rajnish Kumar, the former Chairman of the State Bank of India, as its Strategic Group Advisor.

OYO said that the former top banker will work closely with OYO’s board and the management in his new role. The hospitality major said that Kumar’s experience in digitisation and technology-led initiatives for customers will be critical to the company’s drive to engage innovation while growing its global network of customers.

“As we look to empower our hotel and home partners, or Patrons, as we call them, through technology, and enable our global network of customers to book and stay in affordable and trusted accommodations through a seamless digital experience; we are fortunate to have Mr. Kumar steer us on our mission. Technology innovations are exciting for both Mr. Kumar and us at OYO. His experience of digitization and technology-led initiatives for the customers is critical for us as we make a difference to our stakeholders’ lives,” OYO’s founder and chairman Ritesh Agarwal said.

Kumar joined SBI as a probationary officer in 1980 and retired as its chairman in October 2020 after a distinguished career of 40 years. He is credited with steering the bank through one of the most difficult periods.

YONO, SBI’s digital banking platform, was built from scratch under the guidance of Kumar. He is currently on the boards of HSBC Asia Pacific, L& T Infotech, Hero Motocorp and BharatPe.

“As we look to empower our hotel and home partners, or Patrons, as we call them, through technology, and enable our global network of customers to book and stay in affordable and trusted accommodations through a seamless digital experience; we are fortunate to have Mr. Kumar steer us on our mission. Technology innovations are exciting for both Mr. Kumar and us at OYO. His experience of digitization and technology-led initiatives for the customers is critical for us as we make a difference to our stakeholders’ lives,” Agarwal added.

Earlier, OYO had announced the appointment of para-athlete and Olympic silver medalist Deepa Malik on the board of directors of the company as an Independent Director.

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