NSE Chief Chitra Ramkrishna quits due to 'personal reasons'

Moneycontrol BureauNational Stock Exchange CEO Chitra Ramkrishna has quit the exchange over apparent differences with its board. In a report NSE has said, Ramakrishna has moved on owing to personal reasons.

Ramkrishna has been the Managing Director and Chief Executive Officer of National Stock Exchange of India since April 2013. J Ravichandran, who is now the Group President at NSE, will replace Ramkrishna with immediate effect. The news came at a time when the exchange was preparing to hit the market with its initial public offering (IPO). From 2009 till 2013, Ramkrishna served as Joint MD of the exchange. She served as Head of Listing and Deputy Managing Director of National Stock Exchange of India. Ramkrishna was part of the start-up team that had formed the NSE in the early 1990s. Its older rival BSE, in existence for over hundred years, had a virtual unparalleled life as an equity-trading exchange until then.

Ramakrishna, who is a chartered accountant by training, had her first stint in IDBI Bank in 1985 in project finance.

Speaking to CNBC-TV18, BSE & NSE member Dipan Mehta said the resignation is unlikely to have an impact on the working of the exchange. It is a great organisation which created value and the development shouldn’t impact the functioning of NSE.Watch video for more...