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Private sector lender YES Bank, on Wednesday, said it has shortlisted the names of candidates to succeed its Managing Director and CEO Rana Kapoor, who is to step down at the end of this month.
“Pursuant to the recommendations of the Search and Selection Committee and the Nomination and Remuneration Committee, the board of directors of the bank, at its meeting held on January 9, 2019, have finalised names of potential candidates for the position of MD and CEO,” YES Bank said.
YES Bank’s board will submit an application to the Reserve Bank of India on January 10, 2019, seeking approval for the appointment of the new MD and CEO, it further said.
Names not disclosed
The bank did not disclose the names of the candidates, and it is likely to announce the final decision of the RBI. “On receipt of the RBI approval, the bank will duly make the requisite disclosures to the stock exchanges,” it added.
The RBI has directed Kapoor to step down after January 31, 2019, and the new MD and CEO is to take charge from February 1, 2019. Three candidates, including at least one internal and two external candidates, are understood to have been shortlisted for the position.
Earlier, the bank’s board had met on December 13 when it had appointed the new Chairman.
At the time, it had said the Search and Selection Committee had shortlisted external and internal candidates with whom it would engage before finalising its recommendations.
YES Bank scrip fell 3.07 per cent on Wednesday, and closed at ₹186.40 apiece on the BSE.
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