Breaking away from past practice, the Government on Wednesday split the post of Chairman and Managing Director for PSU banks and named MD-and-CEOs of four banks including United Bank and Oriental Bank of Commerce.
For the first time, PSU banks will have a non-Executive Chairman, giving operational responsibility to Managing Director and Chief Executive Officer (CEO). While R Koteeswaran, Executive Director, Bank of India has been appointed as MD and CEO of Indian Overseas Bank (IOB), Animesh Chauhan, ED of Central Bank, will head Oriental Bank of Commerce (OBC).
Kishore Kumar Sansi, who is currently ED (Punjab and Sind Bank) will be the new MD and CEO of Vijaya Bank, while P Srinivas moves from Bank of Baroda (BoB) to United Bank of India as MD and CEO. The appointments will be for three years or till the date of superannuation, which ever is earlier, the statement said.
The ministry, however, said the current structure at country's largest lender State Bank of India which is headed by a Chairman and assisted by several Managing Directors, will continue.