Max Financial Services Limited announced that Mr. Mohit Talwar is currently the Vice Chairman of the Max Group accompanied by related positions in the Max Group. On completion of his tenure expiring on January 15, 2021, he will relinquish his position as Vice Chairman though continue as the MD of Max Financial Services Limited ('MFSL'). The board level changes being effected are detailed as follows: Mr. Mohit Talwar's current term as the Managing Director of MFSL, shall stand extended for one year until January 14, 2022, to provide continuity to the key initiatives that are currently underway. He will also continue to remain on the Board of Max Life Insurance Company Limited as a Non-Executive Director. Further, he will be relinquishing his position as the Managing Director of Max India Limited on completion of his term in January 2021. However, he will remain on its Board as a Non-Executive Director effective January 15, 2021. Additionally, Mr. Talwar will step down from the non-executive directorship positions from Max Ventures Industries Limited and Antara Senior Living Limited during the first quarter of calendar year 2021. Mrs. Tara Singh Vachani, a promoter group director has been elevated as the Vice Chairperson of the Board of Directors of Max India Limited effective October 28, 2020. Mr. Rajit Mehta, currently the MD & CEO of Antara Senior Living Limited will join the board of Max India Limited as a director and assume the additional role as its Managing Director effective January 15, 2021 for a term of five years.