Kotak Mahindra Bank shares fall after Ashok Vaswani's exit announcement
Business
Kotak Mahindra Bank's stock dropped over 3% on Monday after Managing Director & CEO Ashok Vaswani said he won't continue past his current term, which ends December 2026.
He's stepping down for personal reasons, according to a recent filing.
Vaswani has only been with the bank since January 2024.
Kotak Mahindra begins MD CEO search
The news hit the markets fast: shares slid to around ₹396 on both the BSE and the NSE.
The board respected his decision and is now starting the search for a new Managing Director & CEO, promising a smooth transition while following all regulations.