Canara HSBC Life CFO Tarun Rustagi Resigns, to Leave in November
Tarun Rustagi will remain with Canara HSBC Life during the notice period to facilitate the transition of his responsibilities, the company said.
Tarun Rustagi
NEW DELHI, Aug 31 — Canara HSBC Life Insurance Company said on Monday that Chief Financial Officer Tarun Rustagi has resigned to pursue growth opportunities outside the company, with his last working day set for Nov. 24.
The insurer said Rustagi’s resignation was accepted on Aug. 31. He had submitted his resignation on Aug. 25, according to the company’s filing with the National Stock Exchange and BSE.
Rustagi will remain with Canara HSBC Life during the notice period to facilitate the transition of his responsibilities, the company said.
Tarun Rustagi cites new career opportunities
In his resignation letter, Rustagi said he had decided to pursue “new and growth opportunities” outside the organisation after careful consideration.
He thanked the company’s management and board for their support during his seven-year tenure.
Rustagi said the company had made significant progress during his time, including becoming financially stronger and more data-oriented.
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CFO highlights listing and capital raise
Rustagi also referred to the company’s successful listing and capital raising from the market as a significant milestone during his tenure.
He said the achievement reflected the collective efforts and commitment of the organisation.
Canara HSBC Life did not disclose a reason for Rustagi’s departure beyond his decision to pursue opportunities outside the company. The filing also did not name a successor to the CFO.
Management seeks smooth transition
Managing Director and Chief Executive Officer Anuj Mathur accepted Rustagi’s resignation and thanked him for his contribution to the organisation.
Mathur asked Rustagi to coordinate with colleagues during the notice period to ensure a smooth transition of his responsibilities.
Rustagi said he remained confident in the finance team’s ability to drive the company’s success and in Canara HSBC Life’s continued growth.
He will step down from the CFO role after nearly seven years with the organisation, with Nov. 24 marking his final working day.
Stock movement
Shares of Canara HSBC Life Insurance were trading at ₹156.14 on the NSE on August 31, up 1.26% from the previous close, according to market data. The stock had closed at ₹154.19 on August 28. The shares have traded between ₹105.95 and ₹166.50 over the past 52 weeks, putting the stock close to the upper end of that range. The company’s shares were listed on the NSE under the symbol CANHLIFE and on the BSE under security code 544583.
Trading activity in the stock remained relatively steady during the session, with the shares holding above their previous close and moving closer to the 52-week high of ₹166.50. The stock’s performance comes as investors track the company’s recent business developments and broader trends in the life insurance sector.
