After being the helm of the India’s third largest private sector bank, as per market value, for 3 decade, Uday Kotak now believes it’s time for him to hang the boots.
In his latest letter to the shareholders of Kotak Mahindra Bank, the banking veteran indicated his willingness to act as a non-executive in the bank.
“Going forward, I see my role as a non-executive board governance member and a strategic shareholder with a long term perspective of nurturing a world class institution,” Kotak said.
He is confident that the commitment and alignment of the board members, management, and shareholders will navigate the bank through the coming changing times.
Kotak will be completing 15 years as Managing Director and Chief Operating Officer of Kotak Bank in December this year. He was reappointed for the role in January 2021 for three years. He has been leading the bank since its inception as an NBFC in 1985, and later as a commercial bank 2003 onwards.
After starting the bank from scratch with very little funds in 1985, valuation of the public sector lender has crossed leaps and bounds in over three decades.