Banks Board Bureau (BBB) has invited applications for the post of managing director and chief executive director of Canara Bank for a three-year term. The post of MD and CEO fell vacant at Canara Bank upon the retirement of Rakesh Kumar Sharma on July 31, 2018. Sharma served as the bank's MD and CEO since September 11, 2015. The three-year term begins from the date of taking charge and will be subject to the normal age of superannuation of 60 years, BBB said in an advertisement inviting the application. "To help assess the leadership competencies and potential capabilities of shortlisted candidates, an advisory firm may assist the bureau. The advisory firm will have no role in shortlisting. Shortlisted applicants will appear for interactions with the bureau. "Based on the interactions, the Bureau will send its recommendation to the government," BBB said. As eligibility criteria, BBB said Indian nationals, age 45 to 57 years, with an exemplary track record should apply with minimum 15 years experience in mainstream banking of which at least one year should be at the board level. The candidates can fill in their application by September 21, 2018. Set up in 2016, the Banks Board Bureau is the advisory body formed by the government for selection of candidates for top-level board appointments. The term of Bank of Baroda MD and CEO is also set to expire on October 12, 2018, however, it is likely that the government may give an extension to incumbent P S Jayakumar based on the assessment of his three-year performance. Jayakumar was one of the two selected candidates from the private sector and joined the state-owned bank in October 2015.