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News on Medial
Here's what Uday Kotak will be doing after retirement
Livemint
·
1y ago
Medial
Uday Kotak has stepped down as the Managing Director and CEO of Kotak Mahindra Bank with immediate effect. However, he will continue as a non-executive director until his term ends on December 31, 2023. In a handwritten letter, Kotak mentioned his personal and family commitments in the coming months and the need for a smooth transition. The bank awaits RBI approval for his proposed successor, while Dipak Gupta, the Joint Managing Director, will temporarily take over as MD & CEO, subject to approvals.
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Related News
Few people created wealth for employees like Uday Kotak: Ashneer
Twitter
·
1y ago
Medial
Ashneer Grover remarked on Uday Kotak's departure as CEO and MD of Kotak Mahindra Bank, expressing admiration for Kotak's wealth creation for shareholders and employees over the past three decades. Grover also acknowledged Kotak's contributions to the banking and entrepreneurial landscape in India, extending well wishes for his future endeavors and family time. Uday Kotak will retain his position as a non-executive director of the bank.
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Uday Kotak warns of fake investment scheme being run in his name, says, 'I have nothing to do with this'
IndianStartupNews
·
1y ago
Medial
A recent social media post raised concerns about a fake investment scheme allegedly involving billionaire Uday Kotak, claiming to offer passive daily income for all Indians. However, Uday Kotak himself clarified that the article is fake and he has no association with the scheme or platform. The Indian Express also cautioned users about fake pages posing as their publication.
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Uday Kotak passes baton to Dipak Gupta, top things to know about him
Livemint
·
1y ago
Medial
Dipak Gupta, currently Joint MD of Kotak Mahindra Bank, will serve as MD and CEO until December 31, 2023, pending RBI and member approval. Gupta, a highly regarded banker, joined Kotak Mahindra Primus Limited as CEO in 1996 and has held various leadership roles in the organization. Founder Uday Kotak expressed his commitment to the bank as a non-executive director and significant shareholder following his resignation as CEO.
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Uday Kotak pens heartfelt resignation letter to Kotak Mahindra Bank
Livemint
·
1y ago
Medial
Uday Kotak, the Founder and Promoter of Kotak Mahindra Bank, announced his resignation as the Chief Executive Officer and Managing Director, effective September 1st, three months ahead of schedule. Kotak, who has been associated with the institution for 38 years, explained the decision was made to ensure a smooth transition. Dipak Gupta, currently the Joint MD, will serve as MD & CEO temporarily, pending regulatory approvals. Kotak expressed his commitment as a stakeholder to the bank's continued growth and future success.
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Kotak warns Zepto, Swiggy's rise in quick commerce will become 'political issue'
YouTube
·
9m ago
Medial
Uday Kotak during a recent CNBC-TV18 event warned that the rise of quick commerce companies like Zepto, Swiggy's Instamart, and Zomato's Blinkit poses a challenge to local retailers. "I think it's a challenge that will come to the political front," Kotak said. "But if you look at quick service retail, India is a unique country where it's working," he added.
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Kotak Mahindra Bank’s Milind Nagnur steps down as COO, CTO | Company Business News
Livemint
·
7m ago
Medial
Milind Nagnur, Kotak Mahindra Bank’s COO and CTO, has resigned for personal reasons, planning to return to the US for family care. His resignation follows RBI restrictions placed on the bank due to technology deficiencies. The bank has implemented an interim technology structure. Nagnur's exit is the second high-level departure after K.V.S. Manian. RBI restrictions stem from IT infrastructure issues causing service disruptions. Nagnur was appointed by former CEO Uday Kotak for technological transformation.
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Kotak Mahindra was a startup in 1985, had raised ₹30 lakh: Kotak
Inshorts
·
1y ago
Medial
Kotak Mahindra Bank Founder Uday Kotak said the bank was a startup in 1985 and had raised a capital of ₹30 lakh. "The whole concept of entrepreneurship was at the core of who we are," he stated. "A lot of Kotak-ites started with strong middle-class values and that really kept us all together. We didn't start as highflying," he added.
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Uday Kotak resigns as chief executive of Kotak Mahindra Bank
Reuters
·
1y ago
Medial
Uday Kotak, the billionaire founder and CEO of Kotak Mahindra Bank, has resigned from his position four months ahead of his term's scheduled end. Dipak Gupta, the current joint managing director, will assume the role of CEO until December 31. Kotak's resignation comes as India's banking regulations limit the tenure of chief executives to 12 years if they are also large shareholders. The bank has already applied to the Reserve Bank of India for the appointment of a new managing director. Kotak will remain on the bank's board as a non-executive director and significant shareholder.
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Snowflake's Frank Slootman vehemently denied a BI report in June that he may be leaving. Now he's gone and the stock is down 20%.
Business Insider
·
1y ago
Medial
Snowflake CEO Frank Slootman has announced his retirement, effective immediately. In June, Slootman denied rumors of retirement, calling them "completely untrue." His replacement will be Sridhar Ramaswamy, a former Google ad executive. Following the announcement, Snowflake's stock dropped more than 20% in after-hours trading.
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Adani-Hindenburg Case: Kotak Bank created, oversaw fund used to bet against Adani, claims US short-seller | Mint
Livemint
·
1y ago
Medial
Hindenburg Research claims that Kotak Mahindra Bank and brokerage firms associated with Uday Kotak were involved in creating and managing the offshore fund structure used by its investor partner to bet against Adani group stocks. The short-seller criticized the Securities & Exchange Board of India (SEBI) for failing to mention Kotak's name in its show-cause notice. Hindenburg suspects that SEBI may be protecting influential Indian businessmen, suggesting a lack of scrutiny. SEBI's notice, sent to Hindenburg on June 27, is seen as an attempt to intimidate the short-seller.
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