Uday Kotak Resigns as Kotak Mahindra MD & CEO
On 2nd September, Uday Kotak tendered his resignation as Chief Executive Officer (CEO) and Managing Director (MD) of the Bank.
As per the Official X handle of Uday Kotak, “Succession at Kotak Mahindra Bank has been foremost on my mind, since our Chairman, myself and Joint MD are all required to step down by year end. I am keen to ensure smooth transition by sequencing these departures. I initiate this process now and step down voluntarily as CEO.
As Founder, I am deeply attached to brand Kotak and will continue to serve the institution as Non-Executive Director and significant shareholder. We have an outstanding management team to carry the legacy forward. Founders go away, but the institution flourishes into perpetuity.”
Kotak has been at the helm of the group for 38 years, overseeing a wide array of financial services. He has often said that he believes the real measure of success is the creation of sustainable value.
Beyond financial services, the group’s vision of equitable prosperity extends beyond the financial sphere. Through the Kotak education Foundation, the group works with India’s most disadvantaged communities, seeking to reduce poverty through educational and livelihood programs.
