Uday Kotak Resigns: Before the end of his tenure, Uday Kotak resigned from the post of Director and CEO, tweeted the information.

Uday Kotak Resigns: Uday Kotak, who was holding the responsibility of director and chief executive of Kotak Mahindra Bank, resigned. There was still four months left in Uday Kotak’s tenure. Interim reasons are being given for resigning with immediate effect. This information has been given by the stock exchange on Saturday. In which it was told that in his place Joint Managing Director Deepak Gupta will discharge all these responsibilities till December 31.

Uday Kotak wrote the letter

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.…

— Uday Kotak (@udaykotak) September 2, 2023

My letter is attached pic.twitter.com/vcSIEcvy2r

— Uday Kotak (@udaykotak) September 2, 2023

After resigning, a letter from Uday Kotak also surfaced, in which it was said on his behalf that “I will always stand with the company as the founder and promoter of this wonderful company.” Also whatever responsibility I will have as an important shareholder. I will fulfill it completely. Wrote further, I envision to see India leading the world in the coming years.

Left the post to facilitate the process – Uday Kotak

Uday Kotak said that for many years he held the responsibility of the director and chief executive of this bank, but now I feel that to make things more convenient, the responsibility should be handed over to someone else. My objective is to hand over the succession of the bank to the right hands and I am working focused on this. He wrote on Many people have helped in making this journey a success.

Started in 1985

Kotak Mahindra Bank was started as an NBFC in the year 1985 but in the year 2003 it emerged as a ‘Full Flagged Commercial Bank’. Uday Kotak was handling its responsibility from its inception till now.

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