RBL Bank Forms Panel To Select Candidate For Chief’s Post
RBL Bank mandated a search panel consisting of two board members – the chairman of its nomination and remuneration committee and an outside expert – to find suitable candidates for the post of its managing director (MD) and CEO, according to a regulatory filing. Is.
On December 25, the bank’s board promoted Rajiv Ahuja as interim MD and CEO with immediate effect, after Vishwavir Ahuja was sent on leave. Rajiv’s appointment was subject to regulatory and other approvals.
A day earlier, on December 24, the Reserve Bank of India (RBI) had appointed its chief general manager Yogesh K Dayal as an additional director on the lender’s board, which was seen as unusual in the case of private sector banks. Was.
“The Board in its meeting held today i.e. 30th December, 2021 has constituted a Search Committee (consisting of Chairman of the Nomination and Remuneration Committee, two members of the Board and an external expert) for identification and evaluation for the post of MD. CEO,” RBL Bank said in the filing.
Prospective candidates can be from both within or outside the bank.
The bank said that the board has decided to appoint a reputed recruitment firm for the purpose.
“The bank will endeavor to complete the process of succession at the earliest,” the statement said.
Earlier in the day, the bank had informed Rajeev Ahuja as its interim MD and CEO for three months or till a regular candidate joins to get RBI’s nod.