IndusInd Bank appoints Sumant Kathpalia as Managing Director and CEO

In February, the RBI had approved the appointment of Kathpalia as the MD & CEO of the private lender

IndusInd Bank has appointed Sumant Kathpalia as the Managing Director and CEO with effect from Tuesday for a period of three years. The appointment was announced as Romesh Sobti retired as the MD & CEO of the Bank on Monday after a 12 year stint.

In a regulatory filing on Monday evening, the bank said that Kathpalia would take charge as 'Additional Director' on Tuesday and would be designated as MD and CEO.

"Sumant Kathpalia's appointment as Managing Director & CEO, shall be placed for approval of the shareholders at the ensuing Annual General Meeting," the bank said.