One of India’s leading banks, Kotak Mahindra Bank, has announced that they will be making some big changes in their senior management starting from April 1st. The announcement was made by the current MD and CEO of Kotak Mahindra Bank, Ashok Vaswani. The long-time director and a veteran in the bank, KVS Manian will leave his director post and will join the bank as joint MD. Another bank veteran and full-time director, Shanti Ekambaram, will also be appointed as the deputy MD of the bank.
Another big change will occur as the current group president and chief financial officer (CFO) will retire on 31 March 2024, and Devang Gheewala will take his place as his successor with effect from April 1 2024.
Milind Nagnur, the bank’s current chief technology officer, has also been appointed as the bank’s chief operations officer. Kotak Mahindra Bank said in a stock exchange filing,
“It may be noted that Mr Nagnur shall continue to be the Bank’s Chief Technology Officer and will also be responsible for the Operations of the Bank as also the Group Technology Architecture and Cyber Security”.
As far as the CEO position of the bank is concerned, there are still a few candidates in the race, and the decision is yet to be made. Kotak recently appointed Ashok Vaswani as the group’s new CEO after replacing his predecessor, Uday Kotak. On February 15, CNBC-TV18 said that the federal bank had shortlisted KVS Manian as the CEO. They also mentioned that the Federal bank has shortlisted 2 internal employees for the position of CEO.
