Stocks of KVB slips post CEO resignation

The shares of Karur Vysya Bank fell when the market opened on January 6, 2020 (Monday), after the Bank’s CEO submitted his resignation.

In a BSE filing, Karur Vysya Bank informed the Exchanges that due to some personal reasons, P R Seshadri, the Managing Director (MD) & Chief Executive Officer (CEO), who joined in September 2017, has resigned from his post. However, he would continue to serve till the end of this financial year, i.e. till March 31, 2020. The Board of Directors in a meeting on Saturday accepted his resignation.

Karur Vysya Bank, popularly known as KVB, is a 100-year old, private sector bank, headquartered in Karur (Tamil Nadu, India). It primarily operates in treasury, corporate, wholesale and retail banking segments and also provides personal, corporate and agricultural banking & services to NRIs and MSME.

At 12.50 pm, Karur Vysya Ltd is trading at Rs 56.75, down by 5.02 per cent or Rs 3.00 per share against its previous close of Rs 59.75. Its 52-week high is Rs 95.00 and 52-week low is Rs 51.00.