Commodity exchange MCX has roped in BSE’s Chief Business Officer B Venkataramani to head the bourse as Managing Director and CEO.
The top post at MCX has been lying vacant since May last year when the then MD & CEO Manoj Vaish resigned.
The exchange also reported 5 per cent increase in net profit at Rs 22.96 crore for the quarter ended December 2014.
Its standalone net profit stood at Rs 21.83 crore in the year-ago period.
Income from operations declined to Rs 52.70 crore in the third quarter of this fiscal from Rs 56.10 crore in the corresponding period of the previous year.
Profits were up as the company’s total expenses declined to Rs 38.78 crore in third quarter of the year 2014-15 from Rs 51.13 crore in the year ago period.
In a filing to the BSE, Multi Commodity Exchange (MCX) said the board, at its meeting held today, has “approved the appointment of Balasubramaniam Venkataramani as MD & CEO of the company, subject to the approval of Forward Markets Commission (FMC), shareholders and such other approvals as may be necessary.”
His appointment has been made more than nine months after after Manoj Vaish resigned as MD and CEO of the countryâ€™s leading commodity exchange in May last year.
Following Vaish’s exit, P K Singhal was promoted as Joint Managing Director of the bourse in September last year. Since then Singhal was looking after the day-to-day operations of the exchange.