Outgoing MD and CEO of Yes Bank, Rana Kapoor, is eyeing to become the non-executive chairman of the bank once his term ends in January, reported LiveMint.
According to a document accessed by Mint, which gives details on the consent terms being negotiated between the two promoters of the bank, he could either be the non-executive chairman or managing director and chief executive or a non-executive director, if RBI approves his appointment as a director on the bank’s board.
“The successors, legal representatives and assigns of Ashok Kapur confirm that subject to approval of RBI and the shareholders of Yes Bank, they will consent and approve the appointment of Rana Kapoor either as non-executive chairman or MD & CEO of Yes Bank and such consent shall be deemed to be given by them at all times,” read the document, the report added.
However, the report said that this won’t be easy as existing norms do not allow reappointment of a whole-time director on the bank’s board before two years from the date of stepping down.
While no response was available in the report from the bank, reports stated that the bank will recommend the names for the chairman post during the board meeting that will be held on December 13.