Karur Vysya Bank (KVB), one of the oldest and most prominent private sector banks in India, has announced significant changes in its senior management team, with two key officials stepping down from their respective roles. The bank notified the National Stock Exchange (NSE) and BSE on April 30, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Chief Compliance Officer Resigns

As per the official communication filed by the bank, Shri Sudhakar K V S M, who held the position of Chief Compliance Officer (CCO) and was designated as Senior Management Personnel (SMP), has resigned from his role, and was relieved from his duties effective April 30, 2025. This move follows an earlier intimation provided by the bank on February 19, 2025, which indicated his upcoming exit.

The disclosure filed by Karur Vysya Bank confirms the reason for his exit as resignation, and as a result, the position of Chief Compliance Officer is now vacant or may soon be filled by another candidate, though no new appointment has yet been announced publicly. The filing further states that standard details such as term of appointment, brief profile, and relationship with other directors are not applicable in this instance.

CIO Sekar S Completes Term

Alongside the resignation of the Chief Compliance Officer, the bank has also reported the demission of office by Shri Sekar S, who served as the Chief Information Officer (CIO). His departure comes due to the completion of his term and is also effective April 30, 2025.

Like Sudhakar, Shri Sekar S was also classified under Senior Management Personnel of the bank, and his exit marks another important leadership change at a time when the bank continues to focus on digital transformation and compliance frameworks. Again, as with the CCO, no successor has been disclosed by the bank as of this filing.

Disclosures Under SEBI Master Circular

In line with regulatory obligations, Karur Vysya Bank provided all mandatory disclosures under the SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. These include details of reason for change, date of cessation, and notes on applicability regarding term of appointment, brief profile, and relationship with other directors — all of which are stated as not applicable in both cases.

The exact details from the Annexure are summarised below:

For Shri Sudhakar K V S M:

• Reason for change: Resignation

• Date of cessation: April 30, 2025

• Term of appointment: Not Applicable

• Brief profile: Not Applicable

• Relationship between directors: Not Applicable

For Shri Sekar S:

• Reason for change: Completion of Term

• Date of cessation: April 30, 2025

• Term of appointment: Not Applicable

• Brief profile: Not Applicable

• Relationship between directors: Not Applicable

What It Means for the Bank

While the departure of two top-level executives on the same date may raise questions about succession planning and continuity of leadership, the bank appears to have followed all procedural and regulatory guidelines set by SEBI. It is expected that Karur Vysya Bank will soon announce the appointment of new officers to fill the vacated roles, particularly the Chief Compliance Officer, a critical post for any financial institution to ensure adherence to regulatory norms.

These exits come at a time when the Indian banking sector is undergoing rapid digitalization and increasing regulatory scrutiny. Karur Vysya Bank, with a legacy of more than a century and a strong base in southern India, is actively working to keep pace with these transformations.

About Karur Vysya Bank

Established in 1916, Karur Vysya Bank has grown into a leading private sector bank in India with a significant presence in retail, corporate, and SME banking. Known for its conservative approach and strong regional footprint, particularly in Tamil Nadu, the bank has recently been focusing on digital initiatives and expanding its customer reach across India.

Conclusion

The dual exit of Shri Sudhakar K V S M and Shri Sekar S from senior positions in Karur Vysya Bank reflects a significant moment of transition. As the bank prepares for its next phase, the appointments to these vacated roles will be crucial in shaping its future compliance strategies and IT infrastructure roadmap. All eyes will now be on who steps into these key leadership positions in the coming weeks.

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