Billionaire banker Uday Kotak, the founder of India's fourth largest private sector lender, will transition to a non-executive board member after he steps down from the whole-time role at Kotak Mahindra Bank.
In his final letter to shareholders as managing director on Saturday, Kotak said that the alignment and commitment of the shareholders, board and management will help the bank navigate the changing times.
"I see my role as a non-executive board governance member and a strategic shareholder with a long-term perspective of nurturing a world-class institution," Kotak said in his letter.
He said it is unusual in today's world of banking anywhere to have an individual with "about 26% skin in the game with disproportionate family assets in one stock, emotionally attached to living his dream of making India proud".
Bu hikaye Mint Mumbai dergisinin July 17, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin July 17, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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