Yes Bank finalises new Chairman, New CEO before RBI deadline of Feb 1


Biznextindia :  India’s 4th largest Private sector bank Yes Bank today said that it’s Nomination & Remuneration Committee (N&RC) and Board of Directors have finalised the recommendation for Non-Executive Part-Time Chairman position and will be promptly seeking requisite approvals from the Reserve Bank of India.

On the other hand, the bank has also said that the ‘Search & Selection Committee’ (SSC) and the Board of Directors are on track to complete the process to appoint the new MD and CEO within the stipulated timelines of the Reserve Bank of India ( Feb 1). The SSC has discussed and deliberated on the final shortlisted external and internal candidates presented by Korn Ferry post their comprehensive interviews and assessment. The SSE will now engage with the candidates over the next few days for finalization. The final recommendation will be submitted to the Reserve Bank of India by the Board of Directors post their next meeting scheduled on January 9, 2019.

The bank has also said that, 2 newly appointed Additional Directors (Independent}, Mr. T S Vijayan and Mr. Uttam Prakash Agarwal attended their first Board Meeting today. The Board strength now stands restored at 8 members with only 1 vacancy.

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