Uday Kotak, the billionaire banker and founder of Kotak Mahindra Bank announced that he will step down as the bank s Managing Director and CEO with immediate effect. The bank is now actively searching for Kotak s replacement, both internally and externally. Two key contenders for the role are K V S Manian and Shanti Ekambaram, both full-time directors at the bank.
The board has named Dipak Gupta, the most senior professional, as the interim MD & CEO, for a three-month period until December this year. Kotak's term as MD&CEO was supposed to end in December.
In an interview, Manian shared his views on the corporate loan market, the bank’s strategy on the digital front as well as on hiring senior executives from the market