YES Bank board set to meet on Dec 13 over CEO candidates shortlisting

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YES Bank board has decided to meet on December 13 to discuss the shortlisting of its Chief Executive Officer.

The current CEO Rana Kapoor’s term is going to end on January 31, 2019, and the private bank has intimated that its search for his replacement is going as per the schedule.

YES BankBanking regulator the Reserve Bank of India (RBI), in September, refused to approve any further extension of Rana Kapoor’s tenure as CEO and Managing Director.

“It is being reported by the MD and CEO, Rana Kapoor who is also the largest shareholder and promoter of the Bank, that efforts are underway for mutual resolution with Madhu Kapur and family, the Co-promoter of the Bank,” said the lender in a statement to the BSE.

The bank’s Search and Selection Committee (SSC) and the Nomination & Remuneration Committee (N&RC) will be meeting a day before the board’s meeting.

The board will also be discussing the appointment of two independent directors to replace the board members who have resigned recently.

After the resignations of Ashok Chawla, Vasant Gujarathi and R Chandrashekhar, the board now has 7 board members.

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