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New NSE MD name likely tomorrow; interim committee takes charge

The candidate for the post of chief executive is required to have a track record of strengthening corporate governance, enterprise risk management and compliance management framework, as per the advertisement placed by NSE.

On March 4, NSE had put out ads in newspapers, inviting applications for the post of managing director and chief executive officer. Two days later, Limaye put out a statement saying he was not interested in pursuing a second term. Under current norms, the incumbent needs to compete with other candidates to win the next term.
On March 4, NSE had put out ads in newspapers, inviting applications for the post of managing director and chief executive officer. Two days later, Limaye put out a statement saying he was not interested in pursuing a second term. Under current norms, the incumbent needs to compete with other candidates to win the next term.

By Ashley Coutinho

As Vikram Limaye’s five-year tenure as managing director and chief executive of NSE ended Saturday, a committee will be taking charge for the interim till a new MD is announced, which might happen on Monday.

On March 4, NSE had put out ads in newspapers, inviting applications for the post of managing director and chief executive officer. Two days later, Limaye put out a statement saying he was not interested in pursuing a second term. Under current norms, the incumbent needs to compete with other candidates to win the next term.

The candidate for the post of chief executive is required to have a track record of strengthening corporate governance, enterprise risk management and compliance management framework, as per the advertisement placed by NSE.

Ashishkumar Chauhan, the current MD & CEO of BSE; Bhargav Dasgupta, MD & CEO at ICICI Lombard General Insurance Co; and Yatrik Vin, chief financial officer of the NSE, are said to be in the race for the post. Chauhan was earlier part of the NSE’s founding team.

Limaye had joined the exchange on July 17, 2017, more than seven months after his predecessor Chitra Ramakrishna quit the bourse unexpectedly. “I complete my five-year term as MD & CEO of NSE today. I have done my best to lead the organisation in a very difficult period and to stabilise, strengthen and transform NSE.
We have come a long way in the past five years in terms of strengthening governance, controls, technology, regulatory effectiveness, risk management, market growth and culture,” said Limaye in a statement.

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