The saga of leadership change at Dhanlaxmi Bank has taken a new turn, with the board offering chief executive designate P B Jayakumar an extension of two years as executive director — from March 1 to February 28, 2014. According to sources, Jayakumar’s retirement was due this month. His appointment as managing director and chief executive officer of the Thrissur-based lender is subject to the approval of the Reserve Bank of India (RBI). Since the central bank is yet to sanction his new role, the bank has decided to extend his term as an executive director to ensure he is still employed with the lender when the approval is secured..............
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