Amid investigation into the National Stock Exchange’s lapse in corporate governance, the NSE has sought applications for the role of MD and CEO. The deadline to submit applications is March 25.
As the NSE is headed for public markets, the applicants must have IPO experience. They should also have a track record of strengthening corporate governance, enterprise risk management, and compliance management framework. The NSE notice adds that candidates with exposure to working in a publicly-listed company or having led an organisation through an Initial Public Offering (IPO) will be preferred.
The candidates will be shortlisted by the nominations and remuneration committee. After screening by a selection committee set up by the NSE they will then be recommended to the board. After this, the board will further send the final choice for the roles to the Securities and Exchange Board of India for approval, reported Moneycontrol.
The current CEO and MD Vikram Limaye’s tenure is ending in June. He had replaced Chitra Ramkrishna after she had abruptly resigned in 2016 citing “personal reasons”.
Chitra Ramkrishna has been accused of misusing her office for making inapt appointments, failure to conceal confidential information, and making incorrect and misleading submissions to SEBI. SEBI stated that her unknown spiritual guru influenced her decision-making. The CBI is currently conducting the investigation.
After the departure of Ramakrishna, Vikram Limaye helped the company consolidate its position as the country’s largest stock exchange and move away from the scam. The company is now eyeing a big-ticket IPO.
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(Edited by : Thomas Abraham)
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