Fri. Mar 29th, 2024
Yes-bank

Yes Bank has been asked to submit a final list of prospective Chief Executive Officer and Managing Director to the Reserve Bank of India after the next board meeting, which is to be held on January 9.

According to the bank’s filing, the Search & Selection Committee and the Board of Directors are on track to complete the said process within the stipulated timelines of the RBI. The current CEO, Rana Kapoor will stay in position till January 31, 2019, as RBI refused to extend his term.

On Thursday’s board meeting, the bank said to have finalized its recommendation for the role of a non-executive part-time Chairman, which it will get approved by the RBI promptly. The position was earlier filled by Ashok Chawla who resigned in November. The two newly appointed additional Directors TS Vijayan and Uttam Prakash Agarwal attended this as their first board meeting. The board of Directors lacks one member and is in search for a new Director, especially with IT expertise to replace former independent Director R Chandrashekhar.

Yes Bank shares, which rose as much as 3.5 percent earlier in the session, headed back to close 6.4 percent lower at ₹174.70 on the Bombay Stock Exchange.

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