Equitas SFB CEO Resigns; Stock Falls 20%
Equitas Small Finance Bank said MD and CEO P N Vasudevan resigned, citing a perceived conflict of interest; the board took note at its meeting today. The stock is down 20%.
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10:52:47 AM UTC
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By Ashwin Manikandan and Abhirami GIndia's Equitas Small Finance Bank NSE:EQUITASBNK said on Thursday its longtime CEO P N Vasudevan would resign amid conflict-of-interest concerns as his daughter runs a non-banking finance company, sending its shares down as much as 20%.Vasudevan, who has led the…
Equitas Small Finance Bank on Thursday informed exchanges that its MD and CEO PN Vasudevan has resigned, and the Board has taken note of the resignation at its meeting today.While the company in its statement notes that Vasudevan is stepping down to pursue certain personal and social initiatives, i…