Kotak Mahindra Bank Managing Director and Chief Executive Officer (CEO) Uday Kotak has resigned from his post with effect from September 1. The resignation comes four months ahead of his retirement on December 31. However, Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges on Saturday.
Joint managing director Dipak Gupta will be the chief executive until December 31, it said. “Uday Kotak has ceased to be the Managing Director & CEO of the Bank, with effect from September 1, 2023, on account of his resignation considered at the Bank’s Board meeting held today and has become a non-executive Director of the Bank,” the bank said.
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