Kotak Mahindra Bank: MD and CEO Uday Kotak resigns; Deepak Gupta will take charge

Uday Kotak, MD and CEO of Kotak Mahindra Bank, has resigned from the post. The bank has given information about this in the stock exchange filing. For the time being, Joint MD Deepak Gupta will act as MD and CEO. Although Uday Kotak was to retire from his post on 31 December 2023, but he has resigned from the post of MD and CEO of the bank about four months before his retirement.

Uday Kotak has written a letter to the bank’s board saying that although I still have a few months to go, I am resigning with immediate effect. I have thought about this decision for some time and I believe it is the right thing for any organization.

According to the information given to the stock market, the resignation of Uday Kotak was considered in the bank’s board meeting held today and he ceased to be the Managing Director and CEO of the bank from September 1, 2023. He has now become the non-executive director of the bank.