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Home / Business

Yes Bank's non-executive Chairman Ashok Chawla resigns

14 Nov 2018
Business
Yes Bank's non-executive Chairman Ashok Chawla resigns
New Delhi, Nov 14 (IANS) Yes Bank on Wednesday said that its non-executive independent part-time Chairman Ashok Chawla has resigned with immediate effect.
 
"Yes Bank announces that Shri Ashok Chawla, non-executive independent part-time chairman, has tendered his resignation from the Bank's Board, with immediate effect, mentioning that during the current transition period, the bank would need a Chairman who could devote more time and attention," the private lender said in a BSE filing.
 
"The bank shall in due course announce the appointment of a Chairman, post RBI's (Reserve Bank of India) approval."
 
Last month, RBI had reaffirmed that a successor to Yes Bank's MD and CEO Rana Kapoor should be appointed by February 1, 2019.
 
On its part, the company has constituted a "Search and Selection Committee" to evaluate both internal and external candidates and make suitable recommendations to the Board of Directors within stipulated timelines for RBI' s final approval.
 

--IANS rv/prs