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YES Bank gained nearly 3 per cent as the lender has appointed US-based headhunter Korn Ferry to assist an expert panel searching for a successor to the outgoing MD and CEO, Rana Kapoor.
YES Bank shares rose 2.79 per cent to end at Rs 246.70 on the BSE. Intraday, it jumped 6 per cent to Rs 254.60. On the NSE, the stock gained 2.60 per cent to close at Rs 246.45. In terms of equity volume, 38.82 lakh shares were traded on the BSE and over 4 crore shares changed hands on the NSE.
The bank had invited a proposal from four global leadership advisory firms specialising in banking and finance sector to assist its five-member expert committee in identifying a new chief executive. Kapoor, founder and promoter of the bank, has been asked by the Reserve Bank to step down after January 2019.
Based on assessments and presentations made by these global advisory firms, the Search and Selection Committee has mandated Korn Ferry to assist the committee in evaluating candidates, YES Bank had said in a statement on Thursday.
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