The Bombay Stock Exchange (BSE) on Tuesday has put out an advertisement inviting applications for the position of managing director (MD) and chief executive officer (CEO) for the exchange. This comes days after its counterpart NSE invited applications for a similar role. The current BSE MD & CEO — Ashish Kumar Chauhan has applied for the position at NSE.
The second term of Ashish Kumar Chauhan will come to an end in November this year. As per the Securities and Exchange Board of India (Sebi) norms, a person can be appointed as the MD & CEO for only two terms, not exceeding 5 years each. Chauhan, who joined BSE in 2012, was also the core member of the team that founded NSE and has played a significant role in creating the trading infrastructure at the exchange.
In the advertisement, BSE stated that the candidates applying for the role should have at least 20 years of experience in the industry, of which 5 years should be in a senior leadership position. Further, the candidate must be a results-oriented leader with an excellent understanding of the financial markets. For meeting the criteria, he/she should also have a relevant educational qualification like Chartered Accountant (CA), Masters in Business Administration (MBA), or Bachelor of Legislative Law (LLB) from a reputed institution.
The exchange, however, did not disclose the expected salary for the role, but has stated that it will be in “accordance with industry standards”. The role is based out of Mumbai and the last date for submitting applications would be April 23, 2022. Further, the Nomination and Remuneration Committee, after following the due selection process, will recommend names to the BSE’s Board for the appropriate decision, the exchange said.
