Karnataka Bank appoints Sekhar Rao as interim CEO

Karnataka Bank on Saturday said that it has appointed Sekhar Rao as interim managing director and CEO following the completion of the term of the incumbent CEO.

Mahabaleshwara M S, the incumbent managing director and Chief Executive Officer (MD & CEO) of Karnataka Bank, demitted the office on April 14, after successful completion of his second term of three years, the bank said in a regulatory filing.

Rao, Executive Director, assumed charge as an interim MD and CEO with effect from April 15, 2023, in terms of RBI approval dated April 12, 2023, it said.

He has been appointed for a period of three months or till the appointment of regular MD and CEO whichever is earlier, it said.