LVB MD gets extension – The Hindu

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Private sector lender Lakshmi Vilas Bank Ltd. has extended the tenure of present managing director and CEO (interim) S. Sundar till May 31.

A decision to this effect was taken at April 30 board meeting during which Mr. Sundar’s tenure was extended till May 31, 2020 or till regular MD & CEO took charge, whichever was earlier.

Having been appointed on January 1, 2020, Mr. Sundar was set to retire on April 30, 2020, as per his earlier approved terms of appointment. Now, based on the approval received from RBI, the term has been extended, the bank said in a regulatory filing.

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