Yes Bank's Co-Founder and CEO Rana Kapoor on Monday shared his best wishes to TS Vijayan and OP Bhatt in finding an entrepreneurial and effective leader.
The Board of Directors at Yes Bank had announced last week the formation of a Search and Selection Committee.
The Search and Selection committee is expected to search and appoint Rana Kapoor's successor.
External experts to the committee include TS Vijayan, the former chairman of regulator IRDAI and LIC. The committee will also include OP Bhatt, the former Chairman and Managing Director of State Bank of India.
The internal members on the committee include Brahm Dutt, an Independent Director; Lt General Dr. Mukesh sabharwal and Subhash Chander Kalia, a non executive non-independent Director.
Kapoor on Monday tweeted,
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.— Rana Kapoor (@RanaKapoor_) October 8, 2018
Shri O. P. Bhatt and Shri T. S. 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. #YESBANK— Rana Kapoor (@RanaKapoor_) October 8, 2018
The bank had previously informed exchange houses that it had invited proposals from Global Leadership advisory firms specializing in BFSI sector.
And the first meeting of the Staff and Selection Committee was expectedly scheduled on October 11 for finalization of the advisory firm.
By 10:30 PM on Monday, shares of Yes Bank were trading at Rs 213 per share, up by Rs 7 or 3.40% in intra-day trading on the Bombay Stock Exchange.