PNB Housing Finance , a prominent player in India's housing finance sector, is actively seeking a new leader following the resignation of its Managing Director and CEO, Girish Kousgi. The company has announced that it will consider both internal and external candidates for this crucial position, signaling a comprehensive search process.

Interim Leadership and New Appointments

In the wake of Kousgi's departure, PNB Housing Finance has taken swift action to ensure continuity in its operations:

• Interim Head: Jatul Anand, who was recently promoted to the position of Executive Director, will serve as the interim head of the company while the search for a permanent replacement continues.

• New Chief Business Officer: The company has appointed Valli Sekar as the Chief Business Officer for its affordable business segment.

Both Anand and Sekar assumed their new roles effective August 2, 2025, demonstrating the company's commitment to maintaining strong leadership during this transition period.

Market Response

The announcement of Kousgi's resignation has had a noticeable impact on PNB Housing Finance's stock performance:

• The company's share price declined by 3.64% to ₹778.65 in the most recent trading session.
• This follows a significant 17.00% drop in share price that occurred immediately after the initial announcement of Kousgi's resignation.

These market movements reflect investor sentiment and uncertainty surrounding the leadership change at PNB Housing Finance.

Investor Communication

In response to the leadership transition, PNB Housing Finance held an investors' call on August 4, 2025, at 8:00 AM IST. The company has made the audio recording of this call available to the public, demonstrating its commitment to transparency and open communication with stakeholders during this period of change.

The audio recording can be accessed through a link provided by the company, which has been submitted to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As PNB Housing Finance navigates this leadership transition, the focus will be on finding a suitable candidate to lead the company forward. The search for a new MD and CEO, considering both internal and external candidates, suggests that the company is casting a wide net to ensure it finds the right leader to guide its future growth and strategic direction in the competitive housing finance market.

PNB Housing Finance experienced a significant market shock as its shares plunged 17% in a single day, marking the stock's steepest decline in over four and a half years. The dramatic drop came in the wake of an unexpected announcement: the resignation of Girish Kousgi, the company's Managing Director and CEO.

CEO Resignation Sparks Market Turmoil

Kousgi, who cited personal reasons for his departure, leaves PNB Housing Finance at a critical juncture. The news of his resignation sent shockwaves through the market, triggering a massive sell-off that saw the stock price tumble to ₹811.15 by the close of trading.

F&O Ban Imposed

The intense trading activity surrounding PNB Housing Finance shares led to an unusual development in the derivatives market. As the market-wide position limit surpassed the 95% threshold, the stock entered the Futures & Options (F&O) ban. This restriction means that no new derivative positions can be created on the stock until it exits the ban period.

Unprecedented Trading Volumes

The market's reaction to the news was evident in the extraordinary trading volumes witnessed:

• Over 3.2 crore shares were traded
• This volume far exceeded the 20-day average of 9-10 lakh shares
• The total value of shares changing hands surpassed ₹2,717.00 crore

Promoter's Response

Punjab National Bank, the promoter of PNB Housing Finance, moved to quell speculation about the resignation. The bank confirmed that Kousgi's decision to step down was indeed for personal reasons, as stated. In a notable development, PNB also announced that the search for a new MD & CEO would focus on external candidates.

Stock Performance

The day's events have had a significant impact on PNB Housing Finance's stock performance:

The sudden leadership vacuum and the resulting market volatility have raised questions about PNB Housing Finance's immediate future. As the company begins its search for a new leader, investors and market watchers will be keenly observing how this transition unfolds and its potential impact on the company's strategic direction and market position.