Milind Nagnur, Chief Technology & Operations Officer at Kotak Mahindra Bank (KMB) has resigned.
- He is not an old timer and had joined the bank only couple of years bank in August 2022.
- Reason for resignation is cited as personal reasons (to move back to US to care for the family members).
- Resignation is effective February 15, 2025.
Speculations are attributing last year’s restrictions by RBI on KMB to be the key factor for the change (the restrictions are still lifted !).
I don’t believe this development to be any reason for getting incrementally excited or bearish on the KMB’s stock.