Mahabaleshwara M S to step down as MD and CEO of Karnataka Bank Ltd

The Board of Directors of Karnataka Bank Ltd, in their meeting held today, i.e., October 13, 2022, considered the request of Mr. Mahabaleshwara M S, Managing Director & CEO, not to offer himself for reappointment due to personal/family circumstances. He will continue in the office of the Managing Director & CEO till the completion of his current term i.e., up to April 14, 2023.

The Board further decided to constitute a search & selection committee comprising of five members of the Board to identify and evaluate candidates for the position of Managing Director & CEO. The Committee has been authorised to appoint an executive search firm for this purpose.

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 82.25 as compared to the previous close of Rs. 83.60. The total number of shares traded during the day was 95269 in over 1546 trades.

The stock hit an intraday high of Rs. 83.95 and intraday low of 81.35. The net turnover during the day was Rs. 7818285.00.

Source : Equity Bulls

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TheKarnatakaBank INE614B01018 MD CEO StepDown