Comments
PNB Housing Finance Ltd said that Sanjaya Gupta has stepped down from his role as the Managing Director and CEO of the company on Tuesday. The board has initiated the process to find a new Managing Director and CEO.
This development comes in the backdrop of the end of Gupta’s term on May 4, the housing finance company said in a regulatory filing. Gupta was the MD and CEO of PNB Housing Finance since June 2010.
The board has appointed Neeraj Vyas, who until now was an Independent Director of PNB Housing Finance, to assume the role of interim MD and CEO until a successor is appointed.
Vyas was inducted into the PNB Housing Finance Board in 2019 after retiring from his position as Deputy Managing Director and Chief Operating Officer of State Bank of India.
Ch. SS Mallikarjuna Rao, Chairman of PNB Housing Finance, said: “PNB, the promoter of PNB Housing Finance, has committed its ongoing support to the company and the management team to ensure the long-term growth of the company.
“We (PNB) won’t go below 26 per cent (stake in PNB Housing). Our brand (PNB) will continue, and in case of requirement, we will not hesitate to support.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.