Uday Kotak to take non-executive role after CEO tenure at Kotak Mahindra Bank

New Delhi: Uday Kotak, the current chief executive officer and managing director (CEO and MD) of Kotak Mahindra Bank, will take the role of a non-executive, non-independent director of the bank after his tenure as the CEO ends later this year, according to a report. “Appointment of Mr. Uday Suresh Kotak (DIN: 00007467) as a Non-Executive Non-Independent Director of the Bank upon his ceasing to be the Managing Director & CEO,” said Kotak Mahindra Bank in a regulatory filing. Uday Kotak’s tenure as the chief executive officer and managing director of the bank ends on 31 December, 2023. Since its establishment as a non-banking financial company in 1985, Uday Kotak has served as the bank’s CEO. In 2003, it converted to a commercial lender. By the end of 2022, there were 1,752 Kotak Mahindra Bank locations throughout India. Bloomberg Billionaires Index estimates Uday Kotak’s net worth to be around $13.4 billion. Citing a Bloomberg report, Mint said that Kotak Mahindra Bank Ltd.’s board has engaged consulting firm Egon Zehnder to lead a global search for a chief executive officer to replace the billionaire founder. With inputs from agencies Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.