KVB MD and CEO PR Seshadri resigns

Chennai: Karur Vysya Bank’s managing director (MD) and chief executive officer (CEO) PR Seshadri resigns citing personal reasons. He will be relieved on March 31, 2020 as per his request.

Seshadri cut short his tenure with the Karur-based bank by five months said, “My contract with the bank expires on September 3, 2020. My resignation is a thought through decision and there is nothing to be read other than the reason cited on the bank’s statement.”

On help with choosing his successor he said, “The turn of events (my exit) is very recent, so the board will start the process of finding my replacement. My role in finding a replacement is going to be very limited.”

In August, 2017, the bank’s board co-opted Seshadri as additional director and appointed him as managing director and chief executive officer for a period of 3 years.

On his next plans after his departure with the bank, “I intend to finish my term and take a short break to think and decide my next steps.,” he added.

Seshadri started his banking career with Citigroup in 1992, before taking over charge as MD and CEO of Karur Vysya Bank in 2017.


Ready to Master Stock Valuation? ET’s Workshop is just around the corner!