New Delhi: Major Stock Exchanges IfFacing allegations of lapses in governance, has started looking for a new managing director and chief executive officer to replace the current chief with a five-year term. Vikram Limaye Expires in July. According to a public notice issued on Friday, the exchange has invited applications from candidates having IPO (initial public offering) experience for the top position role before March 25.
Limaye is eligible for another term. However, as per SEBI rule, the incumbent candidate needs to compete with other candidates to win the next term.
He was appointed as the NSE chief in July 2017 following the exit of Chitra Ramakrishna.
Limaye is credited with the rebranding of NSE. Trading in derivatives saw tremendous growth under his leadership.
Listing out the eligibility criteria, the NSE notice states that the candidate should have a track record of strengthening corporate governance, enterprise risk management and compliance management framework.
In addition, candidates working in a publicly listed company or leading an organization through an initial public offering process “will have an added advantage”, it added.
After the deadline, candidates will be short-listed by the company’s nomination and remuneration committee.
A selection committee constituted by NSE, consisting of NRC members and independent external members, will recommend candidates to the board, which will send the names to SEBI for final approval.
The National Stock Exchange (NSE) is facing regulatory scrutiny over lapses in governance and in the colocation case, where some brokers were allegedly granted improper access to exchange data feeds on other members.
In a recent order, the regulator has penalized former NSE MD and CEO Chitra Ramakrishna, Ravi Narayan and others for various contraventions in a case related to the appointment of Anand Subramaniam as group operating officer and advisor to then MD Ramakrishna .
The regulator, in its order, disclosed that Ramakrishna, a yogi living in the Himalayan ranges, had appointed Subramaniam as an advisor to the exchange’s group operating officer and MD.
According to Ramakrishna, the yogi was a “spiritual force who could appear anywhere he wanted and had no physical or local coordinates and lived largely within the range of the Himalayas”.
Limaye is eligible for another term. However, as per SEBI rule, the incumbent candidate needs to compete with other candidates to win the next term.
He was appointed as the NSE chief in July 2017 following the exit of Chitra Ramakrishna.
Limaye is credited with the rebranding of NSE. Trading in derivatives saw tremendous growth under his leadership.
Listing out the eligibility criteria, the NSE notice states that the candidate should have a track record of strengthening corporate governance, enterprise risk management and compliance management framework.
In addition, candidates working in a publicly listed company or leading an organization through an initial public offering process “will have an added advantage”, it added.
After the deadline, candidates will be short-listed by the company’s nomination and remuneration committee.
A selection committee constituted by NSE, consisting of NRC members and independent external members, will recommend candidates to the board, which will send the names to SEBI for final approval.
The National Stock Exchange (NSE) is facing regulatory scrutiny over lapses in governance and in the colocation case, where some brokers were allegedly granted improper access to exchange data feeds on other members.
In a recent order, the regulator has penalized former NSE MD and CEO Chitra Ramakrishna, Ravi Narayan and others for various contraventions in a case related to the appointment of Anand Subramaniam as group operating officer and advisor to then MD Ramakrishna .
The regulator, in its order, disclosed that Ramakrishna, a yogi living in the Himalayan ranges, had appointed Subramaniam as an advisor to the exchange’s group operating officer and MD.
According to Ramakrishna, the yogi was a “spiritual force who could appear anywhere he wanted and had no physical or local coordinates and lived largely within the range of the Himalayas”.