Shares of Kotak Mahindra Bank saw a nearly 2 percent increase on February 20 following the announcement of significant changes to its senior management team. As of 12:04 pm, the shares were trading at ₹1,755.25.
KVS Manian, currently serving as the whole-time director and key managerial personnel, will be re-designated as the bank’s joint managing director effective March 1, 2024.
Shanti Ekambaram, also a whole-time director and key managerial personnel, is set to assume the role of deputy managing director pending necessary approvals.
Effective April 1, 2024, Devang Gheewalla will take over as the new chief financial officer, designated as president and group chief financial officer, succeeding Jaimin Bhatt, whose tenure as group president and group chief financial officer concludes on March 31, 2024.
Furthermore, Milind Nagnur, currently the chief technology officer, will transition to the position of chief operating officer of the bank from April 1, 2024. In this capacity, he will oversee operations and the group’s technology architecture and cybersecurity while retaining his role as chief technology officer.
Lastly, Paul Parambi, the current chief risk officer, will assume the role of group chief risk officer effective March 1, 2024. Both Nagnur and Parambi have been recognized as senior management personnel of the bank.
