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BSE invites applicants for MD-CEO job as Ashishkumar Chauhan’s term to end; aspirants must have this quality

BSE’s ad comes a few days after its counterpart NSE also invited applications for a new chief executive. The tenure of current BSE boss Ashishkumar Chauhan ends in November this year.

BSE invites applicants for MD-CEO job as Ashishkumar Chauhan’s term to end; aspirants must have this quality
BSE has issued an adtin business dailies and on its website seeking applications for the position of new MD & CEO. (File Photo)

BSE has issued an advertisement in business dailies and on its website seeking applications for the position of new Managing Director and Chief Executive officer (MD & CEO). This comes a few days after its counterpart National Stock Exchange (NSE) also invited applications for a new chief executive. The tenure of current BSE boss Ashishkumar Chauhan ends in November this year. This is Chauhan’s second tenure and under SEBI guidelines a candidate can not be appointed as MD & CEO for more than two tenures.

BSE, which is India’s first listed stock exchange, currently has 4,791 companies listed on the exchange, according to its website. The stock exchange has issued an advertisement for a new boss well in advance. According to unconfirmed media reports, Chauhan is expected to apply for the position of new NSE chief. Earlier in March, NSE, the largest derivatives exchange in the world, invited applications for the MD & CEO position. Chauhan is one of the founders of the NSE where he worked from 1992 to 2000. He was instrumental in setting up India’s first fully automated screen based trading system and first commercial satellite communications network. 

In the advertisement, India and Asia’s oldest exchange, said the candidate must have at least twenty years of experience in the industry and at least five years in a leadership position. The candidate must be a qualified Chartered Accountant (CA) or hold Masters in Business Administration (MBA), Bachelor in Technology (B Tech), or Bachelor of Legislative Law (LLB) degree from a reputed institution. The position will be for a maximum of two tenures, a total of ten years, and will be based out of Mumbai. The last date to apply is 23rd April by 9 pm, the advertisement said.

Apart from being market savvy with a track record of success, here are other requirements that a candidate must have before applying for the sought-after position:

  • A candidate must be a seasoned professional with a minimum of 20 years of experience, of which at least 5 years should be in a senior leadership position.
  • A candidate must have knowledge of financial markets and technology and operations.
  • The candidate should have played leadership role, preferably in financial markets, and have demonstrable track record of success
  • A candidate must be market savvy with an entrepreneurial approach and an innovative bent of mind to drive business in a supervised and regulated ecosystem
  • The candidate should have prior experience in managing diverse expectations from key stakeholders, including investors, business partners, regulators, customers, employees, etc.

BSE did not mention the expected salary but said it will be equivalent to industry standards. The stock exchange further added that the applicant needs to fulfill eligibility requirements under Companies Act and SEBI regulations, and must obtain No Objection Certificate (NOC) from requisite authorities before applying.

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First published on: 29-03-2022 at 11:12:16 am