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OYO appoints SBI’s ex-Chairman Rajnish Kumar as Strategic Group Advisor

By Priyanka Verma 
Updated Date

IPO-bound hospitality unicorn Oyo Hotels and Homes (Oyo) on Thursday said that it has appointed Rajnish Kumar, former Chairman of State Bank of India (SBI) as Strategic Group Advisor.

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In his role, Kumar will advise Oyo’s management on short-term and long-term strategy, regulatory and stakeholder engagement, and enhancing the brand of the company globally.

“We are delighted to welcome Mr Rajnish Kumar as a Strategic Group Advisor at OYO. 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; 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,” said Ritesh Agarwal, founder and chairman, OYO.

“Ritesh (Agarwal), a first-generation entrepreneur, and his team have created a unique technology platform to make OYO a household name in the travel sector. I have always been excited about the startups which are bringing a revolutionary change in the Indian economy. Looking forward to working closely with Ritesh and his team in creating value for all stakeholders,” Kumar said.

Kumar joined SBI as a probationary officer in 1980 and retired as chairman in October 2020 after a distinguished career of 40 years in the bank.

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He is credited with steering the bank through one of the most difficult periods. YONO, the digital banking platform was built from scratch under Kumar’s guidance. He is currently on the boards of HSBC Asia Pacific, L&T infotech, Hero Motocorp, and BharatPe.

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