Banker Uday Kotak has resigned as CEO and Chief Executive Officer of Kotak Mahindra Bank
In the letter to Prakash Apte, chairman of the board, Mr. Kotak said he was resigning “with immediate effect”, although there are still a few months left.
“I have been pondering this decision for some time and I believe it is the right thing to do,” said Mr. Kotak in his letter of the year, which I wanted to ensure a smooth transition by alternating these departures. I am starting this process and voluntarily resign as CEO,” he said.
As the founder, I am deeply committed to the Kotak brand and will continue to serve the organization as a non-executive director and significant shareholder. Kotak said: “Excellent management team to continue the legacy. The founders are leaving, but the organization will prosper forever.”
