MUMBAI, Apr 1: Anand Rathi, chairman of Anand Rathi Securities Private Ltd, has been elected as president of the Bombay Stock Exchange (BSE) at the governing board meeting held here today. Deena A Mehta, the first lady member of the governing board, has been elected as vice president and Jayesh Sheth, who was elected to the governing board last week, is the new treasurer. Bhagirath B Merchant, Motilal Oswal and Himanshu N Kaji, the newly elected members of the exchange, were also inducted on the board today.The appointment of the two new generation brokers at the helm could not have come at a better time for the bourse as it gets ready for the new millennium against the backdrop of the unceremonious exit of its president JC Parekh. Both Rathi and Mehta were unanimously selected for the top slots. There is a view gaining ground that Rathi, who distinguished himself during his stint with the AV Birla group, may refrain from being an active trader during his tenure. This comes in the wake of moves beinginitiated by Sebi to encourage only non-active brokers to head an exchange. Rathi, who was earlier president of Indian Rayon before becoming a stock broker, said he would remain fully committed to the bourse.
