KOTAK MAHINDRA BANK'S JOINT MANAGING DIRECTOR KVS MANIAN RESIGNS

Private sector lender Kotak Mahindra Bank on Tuesday (April 30) said KVS Manian has resigned as Joint Managing Director of the bank effective immediately.

"...please note that Krishnan Venkat Subramanian (KVS Manian), ceases to be the Whole-time Director designated Joint Managing Director, with immediate effect on account of his resignation considered, noted and accepted at the above referred Board Meeting," the lender said in a regulatory filing.

"Consequently, KVS Manian ceases to be a Director and a Key Managerial Personnel of the Bank," the bank said.

In February this year, CNBC-TV18 reported that Federal Bank shortlisted Kotak Mahindra Bank's KVS Manian as a Chief Executive Officer (CEO) candidate.

According to sources, the bank has listed two internal candidates for the Managing Director (MD) and CEO roles. The bank is expected to submit three names to the Reserve Bank of India (RBI) for approval. The process is part of the succession planning at the Kochi-headquartered bank.

Shares of Kotak Mahindra Bank Ltd ended at ₹1,623.75, down by ₹16.50, or 1.01% on the BSE.

2024-04-30T16:15:47Z dg43tfdfdgfd