Sunil Mehta, Chairman of IndusInd Bank, will step down from his position in January 2025 after his term ends, as per a Reuters report.
The bank has found itself in the midst of many upheavals, including accounting discrepancies that led to the exit of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana. The bank has been intent on restructuring since Rajiv Anand became its CEO in August 2025.
As per the report, Sunil Mehta informed the bank’s board of his intention to resign at the end of his term. He had taken up the role of Chairman in January 2023. Previously, Mehta has served as the Chairman of Yes Bank as well as the state-owned Punjab National Bank.
A spokesperson told Reuters that the Chairman and the Board “remain fully committed to leading the organisation in line with its strategic priorities.” They added that IndusInd will “continue to make necessary disclosures in accordance with applicable laws and at the appropriate stage.”
Recently, A.P. Hinduja, a member of the Hinduja family, which is the largest stakeholder in IndusInd Bank, told the Economic Times that the bank’s board was undergoing a restructuring process and plans to appoint new directors. In the last three months, IndusInd has hired a new chief financial officer, a chief human resources officer, and a few other senior executives.
