Leadership Shake-Up Hits Karnataka Bank Shares
Shares of Karnataka Bank saw a notable drop after its CEO, Srikrishnan Hari Hara Sarma, resigned for personal reasons, effective July 15. The executive director also resigned due to personal reasons. The bank formed a committee to find new leadership as a temporary COO has been appointed.
- Country:
- India
The shares of Karnataka Bank took a significant hit on Monday, dropping by nearly 6 percent. This came after an announcement that Managing Director and CEO, Srikrishnan Hari Hara Sarma, has resigned.
The stock price fell by 5.75 percent to close at Rs 195.75 on the BSE, with an intra-day low of 8.49 percent at Rs 190.05. On the NSE, it declined by 5.65 percent to Rs 195.90 per share.
Executive director Sekhar Rao also resigned, citing inability to relocate and other personal reasons. The bank has established a search committee for new leadership roles and appointed an interim COO to take charge from July 2, 2025, pending regulatory approval.
(With inputs from agencies.)
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