NSE sets up 4-member panel to hire new MD

The other members of the panel are: former Infosys director Mohandas Pai, NSE independent director Dinesh Kanabar and former Reserve Bank deputy governor Usha Thorat

By: ENS Economic Bureau | Mumbai | Published: December 6, 2016 4:44 am

The National Stock Exchange (NSE) has set up a four-member search committee, which includes Anand Mahindra, to find replacement for Chitra Ramkrishna, who quit as MD and CEO last week.

The other members of the panel are: former Infosys director Mohandas Pai, NSE independent director Dinesh Kanabar and former Reserve Bank deputy governor Usha Thorat. “The selection committee after following the due process will recommend the name to the nomination and remuneration committee and board of the NSE for appropriate decision,” the NSE said in a statement.

Ramkrishna quit for “personal reasons” ahead of the exchange’s planned initial public offering (IPO). The resignation has come against the backdrop of the exchange management’s bitter feud with foreign shareholders over the listing of the NSE and allegations that the exchange had provided unfair access to market data and trading systems in high frequency trading — or algorithmic trading — which exchange officials have long denied.

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