Uday Kotak has resigned as CEO and CEO of Kotak Mahindra Bank. Dipak Gupta, now co-CEO, will stay as chief executive until December 31.
Uday Kotak sent a message to X, formerly known as Twitter, and wrote, “I want to ensure a smooth process. smooth transition by alternating these departures. I am now beginning this process and voluntarily resign as CEO." He also shared his resignation letter with the bank's president and board, in which he wrote: "I would love to be a part of this whole trip. Now is the time to move on."
The bank chain's founder said he will continue to be its "non-executive director and significant shareholder". He added that the bank has taken the necessary steps for a successor and is waiting for RBI's approval.
In a letter to the board, Uday Kotak said he "sees the handover appropriate" after considering his upcoming commitments to his family, including his son's wedding, It's time to finish your mission.
Writing about her journey as the 38-year-old founder of Kotak Mahindra Bank, Uday Kotak said: “I stand alone as the founder, promoter and key shareholder of the group. this great office. It also brings our family. give it a name and take this as your sign. The organization we build together represents purpose, trust, and integrity. I am committed as a stakeholder to seeing this organization become sustainable and grow. »
