PNB Housing Finance Shares Plummet as CEO Steps Down
PNB Housing Finance shares dropped by 18% following the resignation announcement of CEO Girish Kousgi, who will step down in 2025. Despite this leadership change, the company reassures its stakeholders of its strategic stability and plans a rigorous process to find a successor.
- Country:
- India
Shares of PNB Housing Finance experienced a sharp decline of 18% on Friday after the company's CEO, Girish Kousgi, announced his resignation effective October 28, 2025, shaking investor confidence.
The stock fell to Rs 803.30 during the day on the BSE, closing at Rs 808.05. The company ensured that its strategic objectives remain unchanged, thanks to the strong base established under Kousgi's leadership.
The board will begin a transparent and merit-based search for a new CEO to continue driving the company's strategic objectives forward, as confirmed by R Chandrasekaran, chairman of the nomination and remuneration committee.
(With inputs from agencies.)
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