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Yes Bank search committee to shortlist three candidates for CEO post in today's meet

Updated : December 12, 2018 14:50:22 IST

Private-sector lender Yes Bank's search and selection committee (SSC) will hold a meeting on Wednesday to shortlist the candidates for the post of chief executive officer (CEO), sources privy to the developments told CNBC-TV18.

Current managing director and chief executive officer Rana Kapoor's term ends on January 31, 2019.

The bank's SSC will select three people from the final shortlist of five candidates and will send the names to the board for its approval, which will meet tomorrow to consider appointment of a new chairman, two independent directors to replace departing directors, and the CEO search panel’s recommendation to appoint a successor to Kapoor.

Later, the bank will send names of three shortlisted candidates to Reserve Bank of India (RBI) for final approval. The SSC is likely to shortlist two external candidates and one internal candidate.

Mumbai-based bank's board saw high-profile exits with Rentala Chandrashekhar, independent director, Vasant Gujarathi, independent director and Ashok Chawla, non-executive (independent) chairman of the board resigning. The bank said these resignations bear no impact on the selection process of new MD and CEO.

At 13.45 pm, the Yes Bank stock was trading at Rs 185.15 on BSE.
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