PNB Housing Share Falls: After the announcement of the resignation of PNB Housing MD and CEO Girish Kausgi, its stock declined tremendously on BSE. PNB housing shares broke up to 15 percent during the business. Kausgi will be removed from his post on 28 October 2025.

Resignation of PNB Housing CEO and Director

The Board of Directors of PNB Housing have accepted their resignation and said that from October 28, 2025, they will not be directors in the company’s board of subsidiary companies- PhFL Home Loan and Services Limited and Pehel Foundation-Directorate.

PNB Housing Finance said in a information on Friday to the stock market that the company confirms that it is committed to its strategic and commercial priorities and growth, whose foundation was played by Kausgi.

The Chairman of the Nomination and Relations Committee of Board of Directors, R.K. Chandrasekaran said that the company will initiate a rigorous, transparent and merit -based selection process for the new appointment to the post of leadership, which will carry forward the legacy of PNB Housing Finance.

Share fell after announcement of resignation

He said, “We are confident that we will soon choose a suitable professional, which will speed up our strategic direction and long -term value creation.” PNB Housing Finance, promoted by Punjab National Bank, is India’s third largest housing finance company. With the announcement of the resignation of Girish Kausgi, PNB Housing’s stock in the stock market initially fell 10 percent and Intrade trading broke up to 15 percent to Rs 838.30.

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