South Indian Bank shares fall by 19% post CEO not seeking reappointment
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The shares of South Indian Bank fell by nearly 19% to the day’s low of Rs 36.01 on Friday following the news that its Managing Director and CEO, P R Seshadri, has requested not to offer himself for reappointment. In the board meeting held on January 29, 2026, Seshadri informed the board of directors of the bank that he has decided to pursue activities of his personal interest after completion of his current term. Also Read | Equity and MF share in household savings jumps from 2% to 15%, SIP contribution soar 7x: Economic Survey He will continue in the office of the Managing Director and CEO till the completion of his current term, that is, up to September 30, 2026. Following this announcement by Seshadri, the Board decided to take necessary steps to identify a successor for the position of Managing Director and CEO and further resolved to do the needful to complete the appointment process, including obtaining approval from the Reserve Ban...