PNB Housing Finance on Tuesday said it has appointed Neeraj Vyas as its interim Managing Director and CEO. The term of incumbent Sanjaya Gupta comes to an end on May 4.
Vyas will be in the new role for a period of eight months, effective from April 28, according to a BSE filing by the company.
The company's board took the decision based on the recommendations of Nomination & Remuneration Committee, and is further subject to the approval of the shareholders, it added.
PNB Housing Finance said the tenure of Gupta as the Managing Director and Chief Executive Officer (CEO) of the company shall come to an end on May 4, 2020.
"In light of the same, Sanjaya Gupta will be stepping down from his active duties as Managing Director and CEO effective from close of business hours on April 28, 2020," it added.
Vyas has resigned as an independent director (from the company's board) and would take charge as the Executive Director and interim MD and CEO from April 28, it said.
Vyas is a senior banking professional with over 36 years of experience in banking. Previously, he has worked as Deputy MD and COO of State Bank of India.
PNB Housing Finance stock closed 0.61% down at Rs 202.40 on the BSE.
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