Who Is Girish Kousgi, Whose Resignation Triggered PNB Housing Shares To Tumble Nearly 17%

PNB Housing Share Price Today: Girish Kousgi has resigned as the Managing Director and CEO of PNB Housing Finance, triggering a sharp sell-off in the company’s stock. The news of his exit, confirmed on July 31, 2025, led to a massive fall in the company’s share price on August 1, with shares tumbling by nearly 17% in early trade. The company’s board has accepted his resignation, which will be effective from October 28, 2025.

Kousgi’s departure comes as a surprise to many, especially given his role in transforming the company’s business over the past two years. Brokerage firms have called the resignation a negative development, with many noting that the leadership change adds uncertainty at a critical phase of the company’s growth.

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Who Is Girish Kousgi?

Girish Kousgi is a seasoned executive in the Indian financial services sector with over two decades of experience. He joined PNB Housing Finance as MD and CEO in October 2022. Before this, he served as the MD and CEO of Can Fin Homes and held leadership positions at Tata Capital Financial Services, IDFC Bank, and ICICI Bank.

Kousgi holds an executive MBA diploma from the Indian Institute of Commerce and Trade. Under his leadership, PNB Housing Finance focused on expanding its retail loan book, especially in the affordable housing segment. He is credited with improving the company’s asset quality, driving innovation, and aligning operations with a more customer-centric approach.

The company’s board acknowledged his contributions and appreciated his leadership during a phase of transformation. Kousgi’s exit is reportedly to pursue other professional opportunities.

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PNB Housing Shares

The stock market reacted strongly to Kousgi’s resignation. On August 1, PNB Housing shares fell by nearly 17%, touching a low of around Rs 823.95. Over 18 million shares changed hands on the NSE, almost 17 times the average daily volume.

The stock had already been under pressure since July 22 and has lost over 26% in the past month alone. In just five trading sessions, it has declined by more than 19%. Analysts view the resignation as a short-term negative and say it raises concerns over leadership continuity at a time when the company was on a recovery path.

Chairman R. Chandrasekaran said that the board would soon begin a transparent and merit-based process to find a new CEO. The company has assured investors that it remains committed to its long-term growth strategy and value creation goals.