board of UTI Bank has decided to split the post of chairman
and managing director into two posts - non-executive chairman
and managing director.
a statement to the stock exchanges, the bank said the
board took the decision at its meeting on December 15.
However, no decision has been taken about who will hold
these two positions after December 31, 2004, when the
tenure of the incumbent chairman and managing director,
P.J. Nayak, ends.
Trust of India, which owns 33 per cent in UTI Bank is
likely to nominate the chairman and the managing director.