Yes Bank board close to finalising CEO candidate

The private bank's board has finalised candidates for various vacant positions on its board include the replacement for outgoing MD and CEO Rana Kapoor, said the bank in a filing to the bourses on Thursday. 

The Search & Selection Committee and the Board of Directors of Yes Bank have finalized names for the position of Managing Director, Chief Executive Officer, Independent Directors and Non-Executive Chairman. The committee is confident of meeting the Reserve Bank of India's timeline for the appointment. The final decision will be announced in the next board meeting on January 9, 2019. In the interim, the board will engage with the shortlisted candidates and evaluate them. 

Yes Bank filed this announcement during the last leg of Thursday's trading session, the stock had lost most of Wednesday's gains during the day. The stock of Yes Bank opened at Rs. 193.90 per share but fell to an intraday low of Rs. 172.00 per share post the announcement. The euphoria around Rana Kapoor's presence at the helm of affairs at the Yes Bank, however, seems to have played spoilsport for the stock on Thursday. 

The stock closed at Rs. 174.70 per share, down by 6.48 per cent on BSE. Meanwhile, the benchmark BSE Sensex closed at 35,929.64, up by 150.57 points or 0.42 per cent; Nifty50 closed at 10,791.55, up by 53.95 points or 0.50 per cent and Nifty Bank was at 26,816.35, up by 172.50 points or 0.65 per cent.