YES Bank board to name its new MD, CEO today

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YES BankPrivate lender YES Bank is most likely to appoint its news Managing Director (MD) and Chief Executive Officer (CEO) today.

The current MD and CEO Rana Kapoor will retire from his position in a month from now.

The bank’s board will meet on Wednesday to decide the potential successor and submit the name to the Reserve Bank of India (RBI) for approval.

The selection committee of the board is said to have shortlisted three candidates.
Rajat Monga, current Executive Director of the bank is considered to be the top contender for the post.

Former MD of Max Life Insurance, Rajesh Sud is also understood to be another preferred candidate.

The newly selected MD and CEO is expected to take over from February 1. The private lender had earlier met on December 13 when it had named the new Chairman.

 “The final recommendation will be submitted to the RBI by the board of directors after their next meeting scheduled on January 9, 2019,” said YES Bank.

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