PNB Housing Finance Limited has recently addressed concerns following the announcement that its Managing Director and Chief Executive Officer, Girish Kousgi, will be stepping down effective 28th October 2025. The company clarified that Mr. Kousgi’s resignation is driven by his personal decision to pursue career aspirations outside the organization and assured stakeholders that the move is amicable and well-managed.
PNB Housing Finance’s shares movement
Shares of PNB Housing Finance fell sharply by 17.44 per cent on August 1 at 12:45 pm to a trading price of Rs 814.20, a day after the lender informed that the resignation of the MD & CEO has been accepted by the board.
On July 30, Girish Kousgi tendered his resignation, effective October 28, 2025.
Board working to ensure ‘a smooth transition’
PNB Housing said that Kousgi has resigned to pursue career aspirations outside the organization. It further added that he will closely work with the Board and senior management to ensure a smooth transition during this period. The company assured stakeholders that its business strategy and growth trajectory remain firmly intact.
“The company affirms that its strategic priorities, business focus, and growth trajectory remain firmly intact, based on the strong foundation that Mr Kousgi has helped build. The Board is confident that the company’s high-performing team, which has been instrumental in delivering its strong performance, will continue to achieve the company’s goals of robust growth, asset quality and margins,” PNB Housing said in a regulatory filing.
Board to begin immediate search to appoint new CEO
Further, it added that the company board will ‘immediately’ commence a search for a seasoned professional with proven expertise and industry experience, to fill the position.
R Chandrasekaran, Chairman of the Nomination and Remuneration Committee, Board of Directors of PNB Housing Finance, said, ‘’The Board will initiate a rigorous, transparent and merit-based selection process to appoint a new leader who will further enhance the legacy of PNB Housing Finance. We are confident of identifying a suitable professional soon, who will further accelerate our strategic direction and long-term value creation.”
Investor call on Aug 4
In another regulatory filing, PNB Housing Finance announced that the company is scheduling an investor call on Monday, August 4, 2025, at 08:00 am, regarding the resignation of Girish Kousgi.
“With reference to the disclosure made by the Company regarding resignation of Mr Girish Kousgi, MD and CEO, the Company is scheduling an Investor call on Monday, August 4, 2025, at 08:00 A.M. (IST). The Board member(s) and Management Team will be present during the call to address the participants,” it said.
The call with shorter notice, it added, is being scheduled to provide clarifications to the Investors on the subject.