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Uday Kotak Steps Down as CEO of Kotak Mahindra Bank

Kotak Mahindra Bank founder Uday Kotak quit as chief executive officer on Saturday, four months ahead of his scheduled retirement to enable a smooth succession after running the institution for 38 years.

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Uday Kotak, founder of Kotak bank, quits after 38 years at helm

Uday Kotak, founder of Kotak bank, quits after 38 years at helm
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Uday Kotak | Uday Kotak, founder of Kotak Mahindra Bank, resignes as its managing director and CEO

Dipak Gupta, joint managing director, has now been appointed as interim managing director and CEO till December 31

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On Uday Kotak Shock Resignation, Anand Mahindra Says No Finish Line To His-story

Uday Kotak, the founder of Kotak Mahindra Bank, has surprised the financial world by resigning as the CEO and MD months before his expected tenure ends.

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uday kotak resignation: As Uday Kotak vacates the corner office at Kotak Mahindra Bank, RBI plays hardball on successor nod

In a handwritten letter, accessed by TOI, addressed to the bank s chairman, Prakash Apte, Uday Kotak stated, "I have mulled over this decision for some time and believe this is the right thing for the institution." He further explained that his resignation would occur after the completion of the financial year and the Annual General Meeting (AGM) for FY2023, strategically considering the transition and stability aspects.

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