Ashok Vaswani has informed Kotak Mahindra Bank’s board that he does not wish to seek re-appointment as Managing Director & CEO upon completion of his current term on December 31, 2026.

Vaswani cited “personal reasons” for not seeking re-appointment.“The Board has, at its meeting held today, respected his decision and has initiated the process for the appointment of a new Managing Director & CEO. The process will be completed within applicable regulatory timelines,” the private sector bank said in a regulatory filing.Published on June 27, 2026