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Chandra Shekhar Ghosh, who recently announced he would resign as Bandhan Bank’s CEO & MD this July, told ET Now in in a interview that he felt the time was right for him to hang up his boots.

He said he took the decision to move on after a look at the bank’s performance parameters at the end of the fourth quarter showed very good business momentum. All these parameters were fantastic, Ghosh said explaining his decision to “hand over my bank to a new management team”.

Talking of his next move, Ghosh informed he would like to go to the holding company as a strategic supporter on the group. While he was running Bandhan, his team was being prepared to handle operations “at any time and anyone’s absence”, he added.

Amid deepening speculations over who succeeds the prominent banker at Bandhan Bank’s helm, Ghosh said a searching committee will look at options over the next three months.

The searching committee that will be set up will appoint a headhunter, Ghosh said. The process of finding his successor is likely to take some time, he added.

As for Bandhan Bank’ current operational structure, the bank is one subsidiary under the holding company, Ghosh said. The other subsidiary comprises two different businesses.

After he quits as Bandhan Bank’s MD & CEO, he would like to provide strategic support to the whole of the group, likely “in a bigger role”, Ghosh revealed.

As stock markets try and make sense of Ghosh’s sudden decision, the bank’s shares were trading significantly down on April 8 forenoon (about 5.5% down at around 11 am).

  • Published On Apr 8, 2024 at 12:00 PM IST

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