Yes Bank clears reappointment of Rana Kapoor as MD and CEO

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yes_bankThe shareholders of Yes Bank have approved a resolution to reappoint Rana Kapoor as the managing director and chief executive officer of the bank for another three years.

The shareholders of Yes Bank have approved a resolution to reappoint Rana Kapoor as the managing director and chief executive officer of the bank for another three years effective September 1, 2018, at the 14th annual general meeting of the bank held on Tuesday.

Yes Bank said the re-appointment is subject to final approval by the Reserve Bank of India. Rana Kapoor’s current tenure as the managing director and chief executive officer comes to an end on August 31. He has been heading the bank that he founded in 2003, since inception.

Before joining Yes Bank, Kapoor was associated with Rabo India Finance as its MD and CEO. Rabo India Finance is a corporate finance and investment banking entity. Prior to this, Rana was associated with ANZ Grindlay’s investment bank and Bank of America.

“We are extremely satisfied with the trust and faith shown by the institutional and retail shareholders in the board of directors & management, the bank’s business and financial performance, growth plans and decisions to maintain the highest professional standards,” said Ashok Chawla, non-executive chairman of Yes Bank.

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