Shares of private lender Bandhan Bank Ltd fell on September 25 after its chief audit executive resigned to “explore alternative opportunities”.
In a stock exchange filing on September 24, Bandhan Bank said chief audit executive Ravi Lahoti has resigned and his last working day at the bank will be December 21, 2024.
“Ravi Lahoti, Chief Audit Executive of the Bank, has decided to explore alternative opportunities and has accordingly tendered his resignation from the services of the Bank vide a letter dated September 23, 2024,” Bandhan Bank said in a stock exchange filing.
At 10:55 am on September 25, Bandhan Bank shares were trading lower by 1.3 per cent at Rs 205.06 per share.
Lahoti said in his resignation letter, “I have worked in the internal audit and AML domain for over 20 years, including the last 5 years at Bandhan Bank. However, at this juncture, after much consideration, I have decided to pursue alternative opportunities and challenges that align with my professional and personal goals. I am willing to serve the required notice period as per the bank’s policy and will also ensure a smooth transition.”
Earlier this month, Moneycontrol had reported that Swarup Kumar Saha, managing director of state-run Punjab & Sind Bank, has emerged as the top contender to become the new CEO of the Kolkata-based private sector lender.
Global search firm Egon Zehnder was appointed by Bandhan Bank to look for a CEO.
According to sources, a banker with board-level experience, familiarity with eastern India, knowledge of Bengali and willingness to relocate to Kolkata, the headquarters of Bandhan Bank, were some of the key requirements for the top post in the bank.
