CSB Bank, which made stock market debut on Wednesday, has extended current MD and CEO C V R Rajendran’s tenure by three years. The Reserve Bank of India has approved the extension.
Rajendran’s current tenure was slated to end on December 9, 2019. With the extension, his tenure will now end on December 8, 2022.
Rajendran is credit with bringing investment from Prem Watsa-owned Fairfax Holdings, which had discontinued investment talks in May 2017, after several months of negotiations. Fairfax finally acquired 51 per cent stake in the bank in February 2018.Before joining CSB, Rajendran was holding the position of CEO at the Association of Mutual Funds in lndia. Prior to this, he held key positions like Chairman and Managing Director of Andhra Bank and Executive Director at Bank of Maharashtra.
Rajendran’s banking experience spans more than three-and-a-half decades.
Source: Business Standard