NSE seeks applicants for post of managing director and CEO

Chitra Ramkrishna had on 2 December quit as managing director and CEO of the NSE with immediate effect, presumably over differences with some board members


Chitra Ramkrishna had quit as the NSE CEO on 2 December. Photo: Nayan Shah/Mint
Chitra Ramkrishna had quit as the NSE CEO on 2 December. Photo: Nayan Shah/Mint

Mumbai: Beginning the recruitment process, top stock exchange National Stock exchange ( NSE) has invited applications to fill the vacuum created by surprise exit of Chitra Ramkrishna as managing director and chief executive officer.

“The board of directors of the NSE desires to recruit a managing director and chief executive officer for the organisation,” the exchange said in a public notice. “As part of the recruitment process, the board seeks applications from qualified professionals for the post,” it further said. Interested candidates, who are required to be seasoned professionals with minimum 20 years of experience, have to submit their applications latest by 11 January 2017.

The applications would be shortlisted by a four-member selection committee which has been recently formed by the stock exchange. “The selection committee, after following the due selection process, will recommend name(s) to the nomination and remuneration committee and board of the NSE for appropriate decision,” the exchange said. “The decision of the board on the selection will be final,” it said.

The four-member search committee comprises of Mahindra & Mahindra chairman Anand Mahindra, former Reserve Bank of India (RBI) deputy governor Usha Thorat and NSE independent directors T V Mohandas Pai and Dinesh Kanabar. Among other qualifications, the interested applicant is required to have “excellent knowledge of the financial markets” and good understanding of technology and operations. “Experience/exposure to financial exchanges and global markets would be an advantage but is not essential,” the notice said.

Besides, in the senior management role, the candidate should have played a leadership role, preferable in the financial sector, and have a demonstrable track record of success, it added. Additionally, prior experience in managing diverse expectations from key stake holders, including investors, business partners, regulators, customers, employees, among others, is also required.

In a surprise move, Ramkrishna had on 2 December quit as managing director and CEO of the NSE with immediate effect, presumably over differences with some board members, after having served the premier bourse for over two decades since its inception. Senior executive J. Ravichandran has been given the interim charge till the NSE board, headed by former finance secretary Ashok Chawla, finds a full-time replacement for Ramkrishna, who rose through the ranks to head the exchange and was part of the team that set up NSE in 1992. NSE’s initial public offer is being keenly awaited in the market and is expected to be one of the biggest IPOs in recent times.

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