YES Bank on Friday said the panel looking for a successor to MD and CEO Rana Kapoor has the finalised potential candidate profile.
The Reserve Bank has refused to extend the tenure of Kapoor beyond January 31, 2019.
Earlier this month, the private sector lender appointed US-based headhunter Korn Ferry to assist a panel searching for a successor of Kapoor.
The bank's 'Search & Selection Committee' is headed by Independent Director Brahm Dutt.
"The committee finalised the potential candidate profile. Korn Ferry also shared a representative list of the candidate pool, based on initial industry mapping," YES Bank said in a filing to stock exchanges.
In September, the Yes Bank's board sought at least a three-month extension for Kapoor from the RBI beyond January 31, 2019, stating that finding a suitable successor is a "time-consuming challenge".
Last week, the Reserve Bank refused to grant more time to Kapoor and asked the lender to appoint his successor latest by February 1, 2019.
Kapoor has been at the helm of Yes Bank since its inception in 2004.
Shares of YES Bank Friday ended sharply lower by almost 9 per cent after the company reported a decline in net profit for the quarter ended September.
The stock plummeted 8.97 per cent to close at Rs 180.55 on the BSE.
The entire contents of this article are solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation by the Author. Compliance Calendar LLP and the Author of this Article do not constitute any sort of professional advice or a formal recommendation. The author has undertaken utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify and confirm the updates from the genuine sources before acting on any of the information’s provided hereinabove. Compliance Calendar LLP shall not be responsible for any loss or damage in any circumstances whatsoever.