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finance | IST

R Chandrashekhar becomes the third board member to exit Yes Bank in less than a week

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After the exit of Ashok Chawla and Vasant Gujarati from the board of Yes Bank, another director Rentala Chandrashekhar has resigned from his post citing personal reasons, the private sector lender said. Chandrashekhar had sent his resignation Monday morning, people familiar with the development told CNBC-TV18.

After the exit of Ashok Chawla and Vasant Gujarati from the board of Yes Bank, another director Rentala Chandrashekhar has resigned from his post citing personal reasons, the private sector lender said.
"Rentala Chandrashekhar, independent director has tendered his resignation from the bank's board, with immediate effect, due to personal reasons," Yes Bank said in an exchange filing, adding that the nomination & remuneration committee (N&RC) of the bank will look for a suitable replacement.
Chandrashekhar has sent his resignation this morning, people familiar with the development told CNBC-TV18.
Last Wednesday, former bureaucrat Ashok Chawla had resigned as non-executive chairman of Yes Bank.
"Yes Bank announces that Ashok Chawla, non-executive independent part-time chairman, has tendered his resignation from the bank's board, with immediate effect, mentioning that during the current transition period, the Bank would need a chairman who could devote more time and attention," the bank said in a regulatory filing. 
Another independent director Vasant Gujarathi too has tendered his resignation with immediate effect due to personal commitments, said another filing of the bank.
Last Thursday, former SBI chairman O P Bhatt had resigned from the panel set up by Yes Bank to find a successor to its managing director and chief executive officer Rana Kapoor, the bank said.
Bhatt, who was an external expert on the search and selection committee (S&SC), resigned with "immediate effect" as "there may be a potential conflict of interest", the bank added.
Bhatt is under CBI's scanner in connection with loans given to the now defunct Kingfisher Airlines, promoted by fugitive liquor baron Vijay Mallya.
Shares of Yes Bank surged 7.19 percent to end at Rs 205.05 a piece on the BSE.