Mangalore-based Karnataka Bank said late on Sunday night that its managing director and chief executive officer (MD&CEO), Srikrishnan Hari Hara Sarma, and its executive director (ED), Sekhar Rao, have resigned from their positions, citing personal reasons among other factors. The board of the bank has accepted their resignations.
While Sarma cited personal reasons, including his decision to relocate to Mumbai, his resignation will be effective from July 15. Rao, who cited his inability to relocate to Mangaluru and other personal reasons, will step down with effect from July 31.
Following the departure of the MD&CEO and ED, the bank has formed a search committee to identify suitable candidates for both roles.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%