Government of India announced the appointment of MD & CEO of four Nationalised Banks. The appointments announced are as follows:-
1. Shri R. Koteeswaran, Executive Director, Bank of India, Indian Overseas Bank – MD & CEO
2. Shri Animesh Chauhan, Executive Director, Central Bank, Oriental Bank of Commerce – MD & CEO
3. Shri Kishore Kumar Sansi, Executive Director, Punjab & Sind Bank, Vijaya Bank – MD & CEO
4. Shri P. Srinivas, Executive Director, Bank of Baroda, United Bank of India – MD & CEO
The appointment of the above MD & CEOs is for a period of three years or till the date of superannuation, whichever is earlier. In a significant departure from the past practice, the Government of India has decided to now separate the post of Chairman and MD & CEO.
Henceforward, in the new appointments of PSBs other than SBI, the Chairman will be a part time Board Member who would preside over the Board Meetings and will not be an Executive Chairman. The procedure for selection of part time Chairman would be announced shortly.