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Yes Bank finalises names for Kapoor’s successor

List to be sent to RBI for approval

January 09, 2019 10:15 pm | Updated 10:15 pm IST - Mumbai

Special Correspondent
An Indian man walks out of a Yes Bank building in Ahmadabad, India, Friday, Sept. 21, 2018. Shares of the bank fell nearly 29% as several brokerages downgraded the stock and cut its target price after the Reserve Bank of India (RBI) asked CEO Rana Kapoor to step down from the post by Jan. 31, 2019. (AP Photo/Ajit Solanki)

An Indian man walks out of a Yes Bank building in Ahmadabad, India, Friday, Sept. 21, 2018. Shares of the bank fell nearly 29% as several brokerages downgraded the stock and cut its target price after the Reserve Bank of India (RBI) asked CEO Rana Kapoor to step down from the post by Jan. 31, 2019. (AP Photo/Ajit Solanki)

Yes Bank on Wednesday said the board has finalised the names of the next MD and CEO of the lender and would send them to the Reserve Bank of India(RBI) for approval, on Thursday.

The bank has not disclosed the names or the number of candidates shortlisted for the post.

Potential candidates

“...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…the bank’s board will submit an application to the Reserve Bank of India (RBI) on January 10, 2019, seeking approval for the appointment of the new MD & CEO of Yes Bank,” the bank said in a communication.

The top post will fall vacant on January 31, when the present MD & CEO Rana Kapoor’s term ends.

While Mr. Kapoor’s term ended in August 2018, the RBI extended his term only till January though the board had approved a three-year term.

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