The stock was up over 5% at Rs 218, gaining 18% in past one week.
It is important that organisations introduce more formal and mandatory processes of succession planning as part of the corporate governance requirements
Bank's stock has been falling drastically over uncertainty regarding its succession plan
In the face of RBI's action, the bank had said that it will be seeking an 8-month extension beyond the curtailed down period till Jan 31, 2019, for Kapoor
The stock has risen over 21 per cent in the past two sessions after it hit a 28-month low last week.
YES Bank says fully geared for Rana Kapoor's succession
The lender said it will finalise the two external members on a panel to search Kapoor's successor by October 7
Private sector lender Yes Bank Monday said the bank is fully geared up for the succession plan for the post of its MD and CEO and it will finalise two external experts for search committee by October 7. The RBI had last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement. "The Bank is fully geared for the MD & CEO's succession. Pursuant to the Board of Directors meeting dated September 25, 2018, the two external experts of the Search & Selection Committee will be finalised by October 7, 2018," Yes Bank said in a statement. The bank said the Search & Selection Committee assisted by a global leadership advisory firm, which will evaluate both internal and external candidates and make suitable recommendations to the Board of Directors for onward submission to the RBI. "The Search & Selection Committee and the Board of ...
The bank's current market value stands at Rs 484.6 bn, while that of Kapoor and his family is pegged at Rs 45.2 bn
These allegations come at a time when Kapoor's tenure has been cut short by the RBI and all eyes are trained on finding his successor
The YES Bank MD & CEO said in a series of tweets that he remained fully committed to the interests of the bank and its stakeholders
YES Bank hit an over two-year low of Rs 184, down 9% on the BSE in intra-day trade, falling 50% in past one month.
The RBI recently curtailed the tenure of Yes Bank's founder and CEO Rana Kapoor till January 2019
The board has a nomination and remuneration committee, comprising three independent directors; should it not have raised the issue of succession planning some years ago?
The bank has set up a committee to find Kapoor's successor
The board will decide the future course of action after the RBI curtailed the term of its MD and CEO Rana Kapoor and asked the bank to look for a replacement by January 2019.
YES Bank to decide the future course of action after the RBI curtailed the term of its founding CEO Rana Kapoor
Reliance Capital, Reliance Power, Reliance Infra, Karnataka Bank, Karur Vysya Bank, Ujjivan Financial, IFCI, Manappuram Finance and PNB Housing among 68 stocks from the Nifty 500 index hit 52-week low
YES Bank's loan book has grown 42.4 per cent annually over the past two years
The tax department feels the bank has violated norms and under-paid the tax, while the bank feels the opposite