The board of directors of Karnataka Bank has decided to constitute a search and selection committee to identify the candidate for the post of Managing Director (MD) and Chief Executive Officer (CEO) of the bank.
The bank informed stock exchanges on Thursday that the meeting of the board on October 13, considered the request of Mahabaleshwara MS, MD and CEO, not to offer himself for reappointment due to personal/family circumstances. It said Mahabaleshwara will continue in the office of the MD and CEO till the completion of his current term up to April 14, 2023.
The bank informed stock exchanges that the board further decided to constitute a search and selection committee comprising of five members of the board to identify and evaluate candidates for the position of MD and CEO. The committee has been authorised to appoint an executive search firm for this purpose, it added.