Kotak Mahindra Bank: The bank gave a big update regarding the change in leadership – keep an eye on the stock

News Topical, Digital Desk : Kotak Mahindra Bank on Saturday informed in an exchange filing that Shanti Ekambaram, the bank's deputy managing director, will retire on October 31 after completion of her term, which will be a major change in the group's leadership. "Shanti Ekambaram's request has been accepted to retire from the bank's services as director and deputy managing director upon completion of her current term as deputy managing director, which will end on October 31, 2025," the bank said in an exchange filing.

Ekambaram has been part of the bank since 1991 and has played a key role in shaping the bank's growth over the last three decades, a statement issued on May 31 said. The bank further announced that the current Group President and Business Head - Wholesale Banking Group, Paritosh Kashyap will be appointed as Wholetime Director (Executive Director) and Key Managerial Personnel. Major change in the

bank's leadership With Ekambaram's exit from the bank, it is a complete change from the leadership point of view. When it became clear in 2023 that Uday Kotak could not serve as the MD and CEO of the bank, Ekambaram and KVS Manian (now, MD and CEO of Federal Bank) were seen as the preferred internal choices as Kotak's successor. 

Stock performance On Friday, the bank's stock closed 0.21 per cent lower at Rs 2,077.30. In the last one year, the bank's stock has seen a gain of 23.62 per cent.

Read More: As soon as it entered the market, the stock made a big jump on the very first day; the price rose from Rs 47 to Rs 60 within minutes