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.