The sudden resignation of PNB MD has shaken the confidence of investors, but PNB Housing Finance is trying to create an atmosphere of peace among investors.
The sudden resignation of PNB MD & CEO Girish Kousgi has created a stir in the market
PNB Housing Finance stock fell over 15% on August 1, after the company announced that its MD and CEO Girish Kousgi has resigned from his position. The board has officially accepted his decision, which will be effective from October 28, 2025. Kousgi’s decision has worried investors and analysts, especially considering that he played a key role in improving the company during his tenure
Ushering in change and innovation
Under the leadership of MD & CEO Girish Kausgi, PNB Housing Finance witnessed significant changes. He made some important changes
- Customer-centric solutions
- Strategic innovation
- Expansion into affordable and emerging segments
- Improvement in asset quality
Notably, Kausgi firmly forecasted a higher NIM (net interest margin) guidance of 3.7% during the company’s June quarter earnings report, up from the previous range of 3.6-3.65%. Strong growth in the affordable housing sectors, which continuously demonstrate high demand and excellent margins, helped to underpin this expectation
The board conveyed gratitude to Kousgi and pledged to support his strategic continuation.
Kousgi’s contributions are greatly valued by the board, even in light of this unexpected situation. They emphasised his leadership, direction, and capacity to drive the business in a growth-oriented and customer-led manner.
The nomination and compensation committee’s chairman, R Chandrasekaran, issued the following statement:
“The board will undertake a rigorous, transparent and merit-based selection process to appoint a new leader who will further build on the legacy of PNB Housing Finance
An investor call is planned to discuss issues
PNB Housing Finance has planned an investor call for August 4 at 8:00 am in light of the strong market response. Its goal is to immediately address investor worries regarding the company’s post-Kausgi future course
The management reiterated its commitment to
- Executing its long-term strategy
- Sustaining growth momentum
- Delivering value to shareholders
The search for the next CEO is ongoing
The Board has confirmed that it will immediately commence a search for an experienced individual with strong industry experience to take on the role of CEO. The Company is seeking someone who can continue the momentum built under Kausgi’s leadership and further drive innovation, efficiency and customer engagement.
PNB Housing Finance: Continues to Do Well
PNB Housing Finance continues to be a robust organization in spite of the representative absence. The third-largest housing finance company in India, with support from Punjab National Bank, is in a strong position to handle the shift.
Although the stock’s steep decline is indicative of short-term sentiment, long-term investors will be closely monitoring the company’s future moves, which were discussed during its August 4 call.
