RBL Bank recommends candidates for MD & CEO
- ByStartupStory | April 21, 2022
RBL Bank’s board on 20th April said that it has approved candidates for the Managing Director(MD) & Chief Executive Officer(CEO) post and would send the shortlisted names to the RBI soon for approval. Sources reveal that the interim Managing Director & Chief Executive Officer Rajeev Ahuja, whose term ends in June 2022, is not among the candidates.
In March this year, the central bank had granted a 3-month extension for Ahuja. In December 2021, the Reserve Bank of India appointed its chief general manager Yogesh Dayal as a director on the board of the bank with its Chief Executive Officer Vishwavir Ahuja, proceeding on leave at the same time. In June 2021, however, the central bank had allowed Vishwavir to continue in the post of CEO for a year. In the interim, the regulator had also asked RBL Bank’s board to recommend names for a successor.
However. since the board has failed to suggest names for a successor, the RBI is reported to have moved to ensure that recommendations are made in time. In January 2022,the central bank announced that it had appointed Pradip Shah as an external expert to work with the CEO search panel. Egon Zehnder was also appointed by the board as the search firm for identifying candidates.
The search committee of the board comprises of Majeev Singh Puri chairman of the nomination & remuneration committee, as well as 2 directors, Veena Mankar and Ishan Raina.
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