Kotak Mahindra Bank appoints Ramesh Iyer as Independent Director; Ashok Gulati to retire in March – CNBC TV18

Kotak Mahindra Bank on Monday informed the stock exchanges that its Board of Directors has approved key changes at its meeting held on February 17, 2026.

The Board accepted the request of Dr. Ashok Gulati to retire as an Independent Director upon completion of his term on March 5, 2026.

In the same meeting, the Board appointed Ramesh Ganesh Iyer as an Additional Director and Independent Director of the Bank for a period of four years, effective February 17, 2026, subject to the approval of the shareholders.

The Bank confirmed that Iyer is not debarred from holding the office of Director pursuant to any order issued by SEBI or any other authority.

Iyer brings over four decades of experience with the Mahindra Group. He played a pivotal role in building Mahindra & Mahindra Financial Services Limited (MMFSL) into one of India’s leading rural finance institutions, stated the exchange filing.

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He last served as Vice Chairman and Managing Director of MMFSL and as President – Financial Services Sector and Member of the Group Executive Board at Mahindra and Mahindra Limited until his superannuation in April 2024.

In recognition of his contributions, Iyer was named Entrepreneur of the Year by Ernst & Young in 2013 and has received multiple honours, including the CNBC Leadership Award in 2016 and the Business Today Best CEO (Financial Services – Mid-sized Companies) Award in 2014.

Currently, Iyer serves on the boards of several listed and unlisted companies and advises institutions across financial services and technology sectors. He is a Commerce graduate and holds a Doctor of Letters (D.Litt.) degree.

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