YES Bank shares gain 3% as company gives details of search and selection committee

Shares of YES Bank rallied over 3 per cent in morning trade on Monday after the private sector lender on Friday gave details of its search and selection committee to find a new chief executive after the central bank trimmed incumbent Rana Kapoor's term

YES Bank has named former IRDA chief TS Vijayan and former SBI chief OP Bhatt as external members in the search committee to find a new CEO. The five-member panel will also consist of board members Brahm Dutt, Lt Gen (Retd) Mukesh Sabharwal and SC Kalia, the bank said in a regulatory filing. The MD selection panel will hold its first meeting on October 11.

The scrip was trading 3 per cent up at Rs 212.45 at around 10.20 am (IST), while the BSE Sensex was down 38 points, 0.11 per cent, at 34,339 at around the same time.


The bank also invited proposals from global leadership advisory firms for the same.

Rana Kapoor, Co-founder and CEO, YES Bank in a tweet said, “Very pleased that the board’s 3 member nomination and remuneration commitee has expeditiously finalised two external
experts for the search & selection committee, ahead of committed timelines to find my successor.”

“Shri OP Bhatt and Shri TS Vijayan are veteran leaders & stalwarts. Good luck and best wishes to them and the board in selecting an entrepreneurial and effective leader to inherit from me,” he said in another tweet.