Kotak Mahindra Bank on Saturday said its Managing Director and Chief Executive Officer Ashok Vaswani will not seek reappointment after his current term ends on December 31, 2026, citing personal reasons, prompting the private sector lender to begin the process of selecting his successor, Reuters reported.

In a surprising announcement, Ashok Vaswani, CEO and Managing Director at Kotak Mahindra Bank, has decided to step down on December 31, 2026, opting not to pursue reappointment…

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,…