News Stocks South Indian Bank MD & CEO P R Seshadri to Step Down Post Current Term, Board Initiates Succession PlanningSouth Indian Bank MD & CEO P R Seshadri to Step Down Post Current Term, Board Initiates Succession Planning
South Indian Bank's MD & CEO P R Seshadri will not seek reappointment after his current term ends on September 30, 2026, choosing to pursue personal interests. The Board of Directors, meeting on January 29, 2026, has initiated succession planning to identify a suitable replacement. The appointment process will require approvals from the Reserve Bank of India and shareholders, with Seshadri continuing in his role until term completion.
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South Indian Bank announced a significant leadership transition as its Managing Director & CEO, P R Seshadri, has decided not to seek reappointment after his current term ends. The decision was formally communicated during the Board of Directors meeting held on January 29, 2026.
Leadership Transition Details
Mr. P R Seshadri informed the Board of his decision not to offer himself for reappointment, citing his intention to pursue activities of personal interest following the completion of his current tenure. The current MD & CEO will continue to serve in his capacity until his term concludes on September 30, 2026.
| Parameter: | Details |
|---|---|
| Current Position: | Managing Director & CEO |
| Term End Date: | September 30, 2026 |
| Reason for Non-reappointment: | Personal interests |
| Continuity: | Will serve until term completion |
Succession Planning Process
The Board of Directors has proactively initiated the succession planning process to ensure a smooth leadership transition. The bank's leadership has outlined a comprehensive approach to identify and appoint a suitable successor for the critical MD & CEO position.
Key aspects of the succession planning include:
- Identification and shortlisting of suitable candidates
- Completion of the formal appointment process
- Obtaining necessary regulatory approval from the Reserve Bank of India
- Securing approval from the bank's shareholders
Regulatory Compliance
The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has ensured transparency by hosting the information on its official website at www.southindianbank.bank.in , demonstrating adherence to disclosure requirements.
Next Steps
The Board has resolved to expedite the appointment process to ensure continuity in leadership. The bank will work closely with regulatory authorities and stakeholders to complete all necessary approvals and formalities for the new MD & CEO appointment before September 30, 2026.
Historical Stock Returns for South Indian Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.38% | -0.11% | +17.59% | +49.53% | +69.51% | +490.92% |
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