Bank of Baroda, one of the leading public sector lenders, said Tuesday that P S Jayakumar has assumed the charge of the office of managing director and CEO of the bank from Oct. 13, 2015.

Earlier in August 2015, the Government of India has approved appointment of Jayakumar and issued notification on Aug. 14, 2015 regarding the same. Jayakumar is appointed for a period of three years with effect from the date of his assumption of charge of the post, or until further orders, whichever is earlier, the government said in notification.

Shares of the bank declined Rs 1.7, or 0.96%, to trade at Rs 175.10. The total volume of shares traded was 548,118 at the BSE (1.46 p.m., Tuesday).