Yes Bank said that they will submit the final recommendation for the position of the Chief Executive Officer (CEO) and Managing Director (MD) of the bank to the Reserve Bank of India (RBI) after its Board Meeting on 9 January 2019, according to a report by the Economic Times.
Yes Bank in a statement said that its board of directors and the Search and Selection Committee (SSC) are on track to complete the process to submit the names within the stipulated time set by RBI. The SSC has been set up to find a successor to Rana Kapoor.
RBI had made it clear in October that the successor to Rana Kapoor should be appointed by 1 February 2019.
Yes Bank has also said that its Board of Directors and Nomination and Remuneration Committee (N&RC) has finalised the recommendation for the post of ‘Non-Executive Part-Time Chairman’ position after Ashok Chawla, the non-executive independent part-time Chairman resigned last month.
Sources: Economic Times, Business Standard, Zee Business
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