PNB Housing Finance makes leadership appointments after MD & CEO exit

Following Girish Kousgi's resignation, PNB Housing appoints Jatul Anand as Executive Director and Valli Sekar as Chief Business Officer for Affordable Business

Following the resignation of PNB Housing Finance’s managing director (MD) and chief executive officer (CEO) Girsh Kousgi, the mortgage lender has announced key appointments to its senior leadership.

 

Jatul Anand, a function head, has been designated as executive director, and Valli Sekar is chief business officer — affordable business, effective from August 2.

 

Anand would be overall in-charge of ‘prime and emerging’ business (sales, credit, product and collections) and Sekar is set to lead the affordable business vertical, covering the same core operational areas.

 

On Friday, shares of PNB Housing Finance plummeted 18 per cent on the BSE after it announced that Kousgi had resigned to pursue opportunities outside the organisation. His resignation takes effect from October 28, a year before his tenure ends. 

 

To calm investor sentiment, the company, in a statement, said that its team would continue to achieve the goals of robust growth, asset quality, and margins.

 

The board will immediately start searching for a professional with proven expertise and industry experience to take his place.

 

Additionally, Kousgi will work with the board and senior management to ensure a smooth transition during this period, the company said.

 

It added that strategic priorities, business focus, and growth trajectory remained firmly intact, based on the strong foundations that Kousgi has helped build.

 

In July, Dilip Vaitheeswaran, chief sales officer (function head) and Anujai Saxena, business head (affordable business) had exited the organisation.