Karnataka Bank Ltd has announced top-level management changes with the present Managing Director and Chief Executive Officer (MD and CEO) of the bank, P Jayarama Bhat, assuming the charge of part-time non-executive Chairman of the bank on Apr 12, 2017.
The Chief General Manager of the bank, Mahabaleshwara MS, who is appointed as MD and CEO of the bank, will assume office on April 15.
The board of directors of the bank appointed Mahabaleshwara as MD and CEO of the bank for a period of three years from the date of assuming charge, as per the approval received from Reserve Bank of India (RBI).
This was in accordance with the board’s earlier recommendation.
The board appointed Jayarama Bhat as the new Chairman of the bank, as per the approval received from RBI, in pursuant of the board’s earlier recommendation to this effect.
The Chairman’s post was vacant since October 26 on retirement of Ananthakrishna. Jayarama Bhat assumed charge as part-time non-executive Chairman of the bank on Wednesday.
Jayarama Bhat had taken the reigns of the bank as MDand CEO on July 14 2009. Initially appointed for three years, he got extension for two terms up to July 13 2018.
Karnataka Bank: Know More- Headquarters: Mangalore
- CEO: Polali Jayarama Bhat (14 Jul 2009)
- Founded: 1924
- Motto: Your family bank. Across India
- Number of employees: 7,669
