The board of private sector lender Bandhan Bank on Saturday approved the appointment of Ratan Kumar Kesh as interim MD and CEO of the bank with effect from July 10. The present MD and CEO, Chandra Shekhar Ghosh, is set to retire on July 9.
“Pursuant to the approval of the Reserve Bank of India and on the basis of the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank, at its meeting held today, has approved the appointment of Mr Ratan Kumar Kesh, executive director and chief operating officer, as interim MD & CEO of the bank with effect from July 10 for a period of three months or till a new MD & CEO takes charge, whichever is earlier,” the bank said in an exchange filing.
On July 4, FE had reported that the bank’s board was likely to meet this week to appoint a new interim CEO, with executive directors Kesh and Rajinder Kumar Babbar in the running. Kesh, being seniormost ED at the bank, had an edge.
Kesh joined Bandhan Bank as ED in March 2023 and is also serving as the chief operating officer of the bank. He has previously worked with ICICI Bank, HDFC Bank, Yes Bank and Axis Bank.
In April, Bandhan Bank founder Ghosh declared that he will retire at the end of his third tenure on July 9, 2024. He would, however, continue to have a ‘larger strategic’ role at the group level.