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After NSE, now BSE hunts for MD, CEO

The post becomes vacant only in November 2022. With this, we have a situation where the two biggest stock exchanges in India are hunting for CEOs simultaneously

March 29, 2022 / 09:18 AM IST
File image of the BSE building at Dalal Street in Mumbai

File image of the BSE building at Dalal Street in Mumbai


The BSE has invited applications for the post of Managing Director and Chief Executive Officer for the stock exchange.

Notably, the post becomes vacant only in November 2022. With this, we have a situation where the two biggest stock exchanges in India are hunting for CEOs simultaneously.

Earlier on March 4, the National Stock Exchange invited applications from candidates having IPO experience for the role of managing director and chief executive officer before March 25. This came ahead of its intended listing and the end of current MD and CEO Vikram Limaye’s tenure in June.

Limaye’s tenure has seen the company consolidate its position as the country’s largest stock exchange, and trying to move on from the colocation scam and issues of corporate governance under the former CEO Chitra Ramkrishna, who departed in 2017.

Now, the BSE has posted ads in the newspapers on March 29 ‘Inviting applications for the post of MD and CEO’ with a list of experience and other requirements for interested candidates.

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Salary details for the post was not publically announced, but the ad promises that “compensation and perquisites will be in accordance with industry standards”. It also states that the position is based in Mumbai.

Here’s what the BSE is asking for from ‘ideal candidates’:

— Should be a results-oriented leader with the highest ethical standards.

— S/He should be a seasoned professional with minimum 20 years of experience, of which at least 5 years should have been in a senior leadership position.

— The candidate should have an excellent understanding of the financial markets.

— The candidate should have a good understanding of technology and operations.

— The candidate should have played a leadership role, preferably in the financial sector, and have a demonstrable track record of success.

— S/He should be a market savvy leader with an entrepreneurial approach and an innovative bent of mind to drive business in a closely supervised and regulated ecosystem.

— The candidate should have prior experience in managing diverse expectations from key stakeholders, including investors, business partners, regulators, customers, employees, etc.

Here’s who is eligible to apply:

— The candidate will need to fulfileligibility requirements under the Companies Act and Securities and Exchange Board of India (SEBI) Regulations.

  • As per the SEBI guidelines, applicants would need to obtain necessary clearances or No Objection Certificates (NOC) from the requisite authorities, before applying wherever required.

  • As per SEBI guidelines, a person may be appointed as MD & CEO for a maximum of two terms not exceeding 5 years each, subject to the maximum age of 65 years.

— Education Qualification: The candidate should be well qualified (CA/MBA/LLB/B.Tech) or hold equivalent degrees from reputed institutions.

— Candidates will be required to furnish references.

— Candidates have to be Indian passport holders.

Interested? Here’s how to apply:

— The application will be held in strict confidence. Interested candidates can send their CVS via email bse2022@egonzehnder.com latest by 9 pm IST on April 23.

— Queries will be answered via phone (+91 2240767000) and email (se2022@egonzehnder.com and bse2022@egonzehnder.com)

Only applications complaint with the process, requirements and timeline will be received. Further, the Nomination and Remuneration Committee, after following the due selection process, will recommend names to the BSE’s Board for the appropriate decision, it said.

Final selection will be at the sole discretion of BSE subject to regulatory approvals, and the decision will be binding, it added.

Established in 1875, BSE is the pre-eminent stock exchange of India and since 2017 also the first listed stock exchange of India. It is also Asia's first and the world's fastest exchange. Over the past 146 years, it has facilitated the growth of the Indian corporate sector by providing it with an efficient capital-raising platform, as per the company advertisement.

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first published: Mar 29, 2022 08:43 am
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