Advertising
From Pink Slips to Silent Sidelining: Inside adland’s layoff and anxiety crisis
IndusInd Bank hires global firm to find next CEO and Deputy
IndusInd Bank has not publicly commented on the reports of its CEO search.
The current CEO, Sumant Kathpalia, has been granted only a one-year extension by the RBI, raising concerns about leadership stability at the bank.
IndusInd Bank has reportedly enlisted global executive search firm Egon Zehnder to help identify its next managing director and chief executive officer. This move comes at a critical time for the private lender, which is reportedly facing scrutiny over accounting discrepancies in its derivatives portfolio.
According to two officials familiar with the matter, the bank’s board is reportedly working to finalise a shortlist of three potential candidates for the top position, which will be submitted to the Reserve Bank of India (RBI) before July. Egon Zehnder has also been tasked with identifying suitable candidates for the deputy CEO role.
The current CEO, Sumant Kathpalia, has been granted only a one-year extension by the RBI, raising concerns about leadership stability at the bank. It is understood that IndusInd Bank’s board and promoters believe appointing a new CEO, along with a refreshed management team, will help restore investor confidence and mitigate any negative fallout from the recent regulatory challenges.
IndusInd Bank has not publicly commented on the reports of its CEO search. However, the decision to engage a globally reputed headhunting firm underscores the bank’s intent to secure experienced leadership during this turbulent phase.
With the financial sector keeping a close eye on the situation, the appointment of a new CEO will be a key moment for the bank as it seeks to address regulatory concerns, stabilise its operations, and reassure investors about its long-term strategy.
SPOTLIGHT
From purpose-driven work and narrative-rich brand films to AI-enabled ideas and creator-led collaborations, the awards reflect the full spectrum of modern creativity.
Read More“Confusion creates opportunity for agile players,” Sir Martin Sorrell on industry consolidation
Looking ahead to the close of 2025 and into 2026, Sorrell sees technology platforms as the clear winners. He described them as “nation states in their own right”, with market capitalisations that exceed the GDPs of many countries.