TMB is about to Bring its new CEO and MD

Tamilnad Mercantile Bank (TMB), headquartered in Tuticorin, has announced the selection of three candidates for the position of Managing Director and Chief Executive Officer.

In a regulatory filing, the bank informed that based on the recommendation of the Nomination and Remuneration Committee of the Board, the names of three candidates have been finalized in order of preference during the Board of Directors meeting held on November 22, 2023.

The bank has submitted an application to the Reserve Bank of India (RBI) with the list of candidates in sequence, seeking approval for the appointment of the new MD and CEO. Upon receiving the RBI’s approval, the bank will disclose the necessary information as per the listing regulations.

The previous MD and CEO, Krishnan Sankarasubramaniam, tendered his resignation at the end of September due to personal reasons despite having two-thirds of the term remaining. He expressed in his resignation letter the intent to seek guidance from the RBI due to the bank having only one whole-time director.

Before his tenure at TMB, Krishnan served as the MD and CEO of Punjab and Sind Bank from September 4, 2020, to May 31, 2022. Preceding this, he held the position of Executive Director at Canara Bank from April 1, 2020, to September 3, 2020, after his term as the Executive Director of Syndicate Bank between November 1, 2017, and March 31, 2020.

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