Shareholders of the National Stock Exchange approved Ashishkumar Chauhan as a managing director and chief executive officer for the next five year.
In a regulatory filing, the exchange stated that 99.99 percent of votes cast in a postal ballot were in favour of Chauhan's nomination as MD and CEO.
"On this day, let us take a moment to reflect and salute the heroes who have sacrificed their lives for our country and cherish our freedom. India has come a long way since its freedom, today it is one of the major and fastest growing economies and we at NSE are committed to act as a catalyst to improve the financial well-being of people and development of the Indian capital market," said Chauhan said, celebrating Azadi Ka Amrit Mahotsav at the NSE.
In July, capital market regulator Securities and Exchange Board of India (Sebi) cleared a five-year term for Chauhan as managing director and chief executive officer at the NSE.
The appointment comes after Vikram Limaye’s term as managing director, and chief executive officer ended on July 16, as he did not seek an extension despite being eligible for reappointment.
Chauhan is a mechanical engineer from IIT-Bombay and an alumnus of IIM Kolkata. He was part of the founding team of NSE but left it in 2000 for various roles at Reliance Industries group, before returning to the stock exchange arena as deputy CEO of BSE in 2009 and then as CEO in 2012. The BSE has already begun the hunt for a new chief in place of Chauhan.
Chauhan has been relieved of the roles and responsibilities at the BSE with effect from July 25, it said. At the BSE, Chauhan is credited with reviving its revenues, helping it become the world's fastest exchange with 6 microseconds response time.
He introduced mobile stock trading to India, diversified in new areas including currency, commodities and equity derivatives, SME, startups, mutual fund and insurance distribution, spot markets and power trading.
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