Mumbai: The RBL Bank Board decided at his meeting on Thursday to hire a search company to identify new CEOs.
The Board also appointed the search committee consisting of directors to evaluate candidates for the top position in the bank.
Bank shares fell by almost 10% on Thursday after informing the exchange that the Bank of India’s reserve (RBI) has approved the appointment of the MD & CEO of Rajeev Ahuja only three months with the effect of December 25 or until the appointment of MD & CEO is normal, which is early.
Last weekend, RBI has appointed Yogesh Dayal as an additional director on the Bank Board, a step that was immediately followed by Bank MD & CEO of Bank Vishwavir Ahuja which took place on medical leave.
In the investor call on Sunday, the RBL Bank said that the appointment of Ahuja – part of the existing management team – because the CEO of Interim was the size of the RBI trust in the bank.
In the exchange notification, the bank said that the search committee would consist of the Chair of the Nomination & Remuneration Committee, two board members and one external expert to identify and evaluate candidates for MD & CEO positions – both from inside and outside the bank.
According to sources, the bank has dragged his foot in the search process even though there were only six months left for Vishwavir Ahuja to complete his term of office.
The source also said that the bank had not moved quite quickly for the RBI, which needed several months to complete the appropriate and precise assessment of the proposed candidate.