Private lender RBL Bank today informed stock exchanges that it has constituted a search committee to identify candidates for the post of MD and CEO from within and outside the bank.
The search committee consists of the chairman of the nomination and remuneration committee, two board members and an outside expert.
The Board has also decided to appoint a reputed recruitment firm for the purpose. RBL Bank said that it will endeavor to complete the process of succession at the earliest.
Shares of RBL Bank closed down 9.29 per cent on Thursday 130.90 on NSE.
Earlier today, RBL Bank said that the Reserve Bank of India (RBI) has approved the appointment of Rajiv Ahuja as the interim MD and CEO of the bank for a period of three months with effect from December 25, 2021 or till a regular appointment . MD & CEO, whichever is earlier.
During the weekend, RBL Bank had informed regarding the approval of the board of directors for the appointment of Rajiv Ahuja as interim MD and CEO, subject to regulatory and other approvals. The development comes after its chief executive Vishwavir Ahuja immediately went on leave.
Earlier, the RBI has also appointed an additional director on the board of the private lender. A day after its top executive stepped down, RBL Bank clarified that these developments are in no way a reflection of the bank’s fundamentals. It further said that these developments are not due to any concern over the bank’s advances, asset quality and deposit levels and have the full support of the RBI.
Amid concerns over the surprising turn of events on RBL Bank stock tanking in Monday’s session, the RBI later assured the concerns of depositors and shareholders that the private lender’s financial health remains stable, and the response from depositors and other stakeholders. There’s no reason to. For speculative reports.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,