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RBL Bank forms panel to find candidates for position of MD & CEO

The committee will evaluate candidates for the position from "within and outside the bank", RBL Bank said.

December 30, 2021 / 10:28 PM IST

RBL Bank on December 30 informed the stock exchanges that it has formed a search committee to find suitable candidates who can head the private lender as its managing director and chief executive officer (MD & CEO).

The panel comprises the bank's chairman of the nomination & remuneration committee, two board members, and one external expert, it said.

The search committee will evaluate candidates for the position from "within and outside the bank", it said.

The regulatory filing further noted that the bank would attempt at completing the succession process at an early date.

Also Read | RBL Bank hits 52-week low after reports of Rs 300 cr loan write-off within 7 months of sanctioning


"We wish to inform that the Board at its meeting held today i.e. December 30, 2021, has constituted a search committee (comprising of the Chairman of the Nomination & Remuneration Committee, two members of the Board, and one external expert) to identify and evaluate candidates for the position of MD & CEO both from within and outside the Bank," RBL Bank said.

"The Board has decided to appoint a reputed recruitment firm for the purpose. The Bank will endeavor to complete the succession process at an early date," it further noted.

The announcement comes five days after RBL Bank's long-term MD & CEO Vishwavir Ahuja proceeded on leave with immediate effect. In his absence, the bank's executive director, Rajeev Ahuja, was appointed as the interim MD & CEO.

Earlier on December 30, the Reserve Bank of India (RBI) approved the appointment of Rajeev Ahuja as the interim MD & CEO for a period of three months with effect from December 25, 2021 or till the appointment of a regular MD & CEO.

The central bank, on December 24, had also appointed its chief general manager Yogesh K Dayal as an additional director on the board of RBL Bank for a two-year period. His appointment was "welcomed" by the lender.
Moneycontrol News
first published: Dec 30, 2021 10:28 pm
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