REGULATORY · COMPETITIVE · INDIA
Sunil Mehta to step down as IndusInd chairman
Change
Sunil Mehta will step down as IndusInd Bank chairman when his term concludes in January.
Why it matters
Sunil Mehta informed the board that he will step down at the end of his term in January. Mehta has served as IndusInd Bank chairman since January 2023. The bank recorded its largest-ever quarterly loss for the three months ended March 31 after a $230 million hit linked to governance and accounting failures that preceded the earlier departures of the CEO and deputy CEO. Rajiv Anand became CEO in August 2025 and the bank has been undergoing an organisational overhaul since his appointment. Recent senior appointments include Ganesh Sankaran as head of wholesale operations and new chief financial officer, chief human resources officer, and other senior executives.
Implications
- · Investor criticism of the board's oversight and delayed disclosure remains an active governance constraint.
- · The $230 million accounting hit and the reported quarterly loss constrain the bank's reported financial position.
- · An ongoing programme of senior executive appointments is in progress as part of the organisational overhaul.
Who is affected
- · Board directors
- · Senior management
- · Investors/shareholders
What to watch
- · End of Mehta's term in January
Source
Topics
World & Politics Governance Business & Markets Management Finance & Banking Banking Regulation Financial Services