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The Board of Directors of IndusInd Bank have approved the re-appointment of Sumant Kathpalia as the Managing Director & CEO for a further period of three years, with effect from March 24, 2023 up to March 23, 2026 (both days inclusive).
The re-appointment is subject to the approval of the Reserve Bank oflndia and the shareholders, the bank said in a regulatory filing.
At IndusInd Bank, Kathpalia has been part of the core leadership team and has been pivotal in turning it around, per the filing.
As MD & CEO, he led the Core Executive Team that has successfully effected the bank’s business turn-around, it added.
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