Raising capital may be priority for incoming Dhanlaxmi CEO
Business Standard|April 23, 2024
Ajith Kumar will be fifth CEO in nine years
MANOJIT SAH

Ajith Kumar KK, whose appointment was approved by the Reserve Bank of India (RBI) as managing director (MD) and chief executive officer (CEO) of Dhanlaxmi Bank last week, will be the fifth person to head the bank in the last nine years.

According to bank sources, one of the top priorities of Kumar will be to raise capital.

Kumar will replace J K Shivan, who completed his three-year term in January 2024. RBI had asked Shivan to continue as MD & CEO till a new person takes charge.

Shivan's predecessor Sunil Gurbaxani, who took charge in February 2020, had to resign after shareholders voted him out. Gurbaxami's predecessor T Latha, who was appointed in July 2018, quit in October 2019, citing personal reasons.

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