Uday Kotak steps down as Kotak Mahindra Bank MD & CEO effective Sep 1
Uday Kotak, managing director and chief executive officer of Kotak Mahindra Bank, stepped down on September 1, four months before his current term would have ended on December 31, 2023. Kotak will become a non-executive director on the board of the private sector lender.
"Uday Kotak has ceased to be the managing director and CEO of the bank, with effect from September 1, 2023 on account of his resignation considered at the bank's board meeting held today and has become a non-executive director of the bank," Kotak Mahindra Bank said in a notification to the stock exchanges on Saturday.
Dipak Gupta, the joint managing director of the bank, will carry out the duties of the managing director and CEO until December 31, 2023, as an interim arrangement, the bank said. The ap...