PNB Housing Finance Announces New Leadership Appointments After CEO Resignation

In a major leadership shake-up, PNB Housing Finance has announced key appointments to its senior management team following the resignation of its MD and CEO, Girsh Kousgi. The changes come at a critical time for the mortgage lender, which saw its shares tumble by 18% on the BSE after the announcement.

Leadership Appointments

Effective August 2, the company appointed,

• Jatul Anand, a function head, as Executive Director, who will oversee the prime and emerging business, including sales, credit, product, and collections.
• Valli Sekar as Chief Business Officer — Affordable Business, tasked with leading the affordable housing vertical, covering the same operational areas.

These appointments aim to maintain continuity and drive the company’s strategic priorities amid the transition.

The Resignation of Girsh Kousgi

Kousgi, who had played a pivotal role in strengthening the lender’s foundation, has resigned to pursue opportunities outside the organisation, with his exit effective from October 28, 2025—a year before his tenure was due to end. Despite his departure, the company confirmed that Kousgi will work closely with the board and senior management to ensure a smooth transition.

Impact on Markets and Investor Sentiment

The sudden resignation triggered an immediate market reaction, with PNB Housing Finance shares falling 18% on the BSE. In response, the company issued a statement to reassure investors, highlighting its commitment to robust growth, asset quality, and strong margins.

Previous Senior-Level Exits

Kousgi’s resignation follows recent senior-level departures,

• Dilip Vaitheeswaran, Chief Sales Officer, in July 2025.
• Anujai Saxena, Business Head for Affordable Business, also in July 2025.
• These successive exits underscore the leadership challenges the company currently faces.

Future Plans

The board has initiated a search for a professional with proven expertise and industry experience to take over the role of MD and CEO. Meanwhile, the newly appointed leaders are expected to continue the company’s growth trajectory, leveraging the foundations laid under Kousgi’s tenure.