Bandhan Bank board to take call on interim head today after founder, MD and CEO Chandra Shekhar Ghosh steps down
Bandhan Bank board is meeting Saturday to decide on the issue of an interim head to navigate the daily operations as managing director and CEO Chandra Shekhar Ghosh is all set to step down next week.
The journey of Ghosh as head of Bandhan Bank is coming to an end on July 9, in a rather imperfect way as the bank is yet to find his successor, which will leave a void at the top at least for some time in one of the two universal banks given licence in the past decade.
The board may select any of the two executive directors—Rajinder Kumar Babbar and Ratan Kumar Kesh—to run the show, sources in the bank said. There is also a possibility of forming a committee of executives including both Babbar and Kesh to oversee the operation in the interim as happened in Tamilnad Mercantile Bank last month.
The Reserve Bank of India in the last week of June appointed Arun Kumar Singh, its former chief general manager, as additional director on the board of Bandhan Bank for a year, apparently to guide the bank in succession planning.
Kesh joined Bandhan Bank in March last year and plays the role of the bank's chief operating officer. Babbar is relatively new in the bank as he joined last March and serves as the chief business officer.
Many within the bank find Kesh, being senior in the bank, as the frontrunner for the position of interim head, if the board selects one person over the proposal of a committee of executives.
Ghosh, Kesh and Babbar could not be reached immediately for comments.
«The issue in the case of Bandhan, in
