Sumant Kathpalia to succeed Romesh Sobti as MD and CEO of IndusInd Bank

Romesh Sobti, MD & CEO, IndusInd Bank
Sumant Kathpalia, Head – Consumer Banking, IndusInd Bank

Sumant Kathpalia, presently Head of Consumer Banking at IndusInd Bank will take over as the managing director and chief executive for the bank. The Reserve Bank of India has approved his appointment for a period of three years effective March 24, 2020.

In their statement, the bank said – “As previously advised to the Exchanges, the Bank’s Nomination & Remuneration Committee and the Board had considered and submitted the name of a potential candidate for the role of MD & CEO, to the Reserve Bank of India (RBI), seeking an approval for the appointment”.

Sumanth, will take charge immediately on retirement of Romesh Sobti, who has been at the helm of the bank since 2008.

His name was finalized by the Board as a potential candidate in accordance with the recommendation of the Nomination and Remuneration Committee during its meeting on 30th October 2019. The same had been put across to the RBI for approval.

Sumant Kathpalia, has been with the bank since 2008. He is a chartered accountant by qualification, and has previously been with Citibank, Bank of America, and ABN Amro.

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