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New Delhi- Kotak Mahindra Bank Managing Director and CEO Uday Kotak announced his resignation on September 2. Deepak Gupta, the current joint managing director, will hold the charge as caretaker CEO until his successor is selected. (Uday Kotak stepped down from his position as the Managing Director and CEO of Kotak Mahindra Bank)
Uday has shared a post on social media. Through this, he has reminisced about the early days of the company and the trajectory of the company. 64-year-old Uday Kotak gave information about how the company grew. Uday Kotak will continue with the company as a non-executive director and significant shareholder.
10 thousand in the company in 1985 investment He has mentioned in the post that if he had done it, he would have got a refund of Rs 300 crore. Uday Kotak has resigned from his post. Everyone was shocked when he suddenly resigned with four months left to complete his tenure.
I was thinking about who will be my successor. I decided to step down just to make it easy. RBI will decide who will be the successor. Being the founder, I have an emotional bond with the company. We have a great team and the legacy of the company will continue well. Kotak said that even if the founder leaves, the company will continue to develop.
When I look back, JP Morgan and Goldman Sachs dominated the financial world. It was my dream to have a similar company in India. With this dream, I founded Kotak Mahindra 38 years ago. At that time only 3 employees and 300 garrison area office In Mumbai was I have lived my dream, he said.
We are currently a major bank and financial institution. We have achieved this success on the strength of trust and transparency. We have added shareholder value. Also today we give direct jobs to 1 lakh people. Uday Kotak also said that an investment of 10,000 would have been worth 300 crores today. Our organization will progress like this and of the country Kotak expressed his belief that he will continue to contribute to development.
