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MUMBAI: Bandhan Bank founder MD & CEO Chandra Shekhar Ghosh (64) has said that he will step down from his position upon completing his tenure on July 9, 2024.
In Nov 2023, the board of Bandhan Bank had approved Ghosh’s reappointment for three years. “After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at the Bandhan group level,” said Ghosh.
Ghosh’s decision will pressure the board to find a successor soon.The RBI requires banks to recommend a candidate several months in advance so that the regulator can complete its due diligence process.
In 2020, RBI proposed a 10-year tenure cap for promoter CEOs. Ghosh would have completed 10 years as CEO in 2025. The microfinance institution-turned-bank has two senior executive directors, Rajinder Kumar Babbar and Ratan Kumar Kesh.
The group has diversified into other sectors, such as amusement parks and healthcare. Nicco Park, an integral part of the city’s landscape for over two decades, was taken over by Bandhan Employees Welfare Trust in 2021. Besides BEWT, Angsuman Ghosh, the son of the founder of Bandhan, was also an investor in Nicco.
Later, in 2023, the group acquired a controlling stake in Quadra Medical Services and a trust, one of the leading diagnostics chains in the city. Now, Angsuman Ghosh is on the board of this diagnostic chain.
In Nov 2023, the board of Bandhan Bank had approved Ghosh’s reappointment for three years. “After leading the bank for almost a decade, including three consecutive tenures as MD & CEO, I feel that the time has now come for me to assume a larger strategic role at the Bandhan group level,” said Ghosh.
Ghosh’s decision will pressure the board to find a successor soon.The RBI requires banks to recommend a candidate several months in advance so that the regulator can complete its due diligence process.
In 2020, RBI proposed a 10-year tenure cap for promoter CEOs. Ghosh would have completed 10 years as CEO in 2025. The microfinance institution-turned-bank has two senior executive directors, Rajinder Kumar Babbar and Ratan Kumar Kesh.
The group has diversified into other sectors, such as amusement parks and healthcare. Nicco Park, an integral part of the city’s landscape for over two decades, was taken over by Bandhan Employees Welfare Trust in 2021. Besides BEWT, Angsuman Ghosh, the son of the founder of Bandhan, was also an investor in Nicco.
Later, in 2023, the group acquired a controlling stake in Quadra Medical Services and a trust, one of the leading diagnostics chains in the city. Now, Angsuman Ghosh is on the board of this diagnostic chain.
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