Keeping the coveted position fully vacant since November 01, 2014 the Department of Financial Services finally entrusted the additional charge of MD & CEO to Gauri Shankar, the senior most ED at Punjab National Bank.
Gauri Shankar will now be serving in the capacity of MD & CEO of PNB, the second largest (by asset) public sector bank till the appointment of a full-time MD & CEO. Prior to his appointment with PNB as Executive Director on October 07, 2013 Gauri Shankar served with Bank of India as GM and had the experience of serving the Banks’s Overseas Centres at Jakarta and Singapore.
The post of MD & CEO has been running vacant since November 01, 2014 after K R Kamath failed to get extension beyond October 28, 2014 when he completed his five-year tenure as MD & CEO.
As per the rules and provisions, the CMD and Directors are appointed in public sector entities for a period of five years or up to the age of 60, whichever earlier.