Vijay Kumar to succeed Shah as MD of NCDEX

Mumbai: Vijay Kumar, a former chief business officer at NCDEX, is said to become MD and CEO of the country’s largest agri-futures bourse, sources told ET

The exchange would convene an extraordinary general meeting (EGM) for the appointment on December 15.

Kumar was chosen from among 11 candidates by the exchange’s selection committee headed by former comptroller and auditor general Vinod Rai. The search committee includes, among others, Rabi Narayan Das, chairman, NCDEX.

Das confirmed the imminent EGM but declined to comment on Kumar’s appointment, which would be subject to shareholder and Sebi approvals.

Kumar would assume office for three years after the Sebi approval. An NCDEX official said: “The board is following a Sebimandated process for the selection of its MD & CEO and will appoint after completing its due process. Until then, the exchange has no comments to offer.” Kumar is an agro-industry veteran, having worked for Cargill and National Bulk Handling Corporation.