Mumbai, December 13, 2018:
The Board of Directors of YES BANK are pleased to announce the following updates pursuant to its Board meeting today at YES BANK’s Headquarters, Mumbai.
The Bank’s Nomination & Remuneration Committee (N&RC) and Board of Directors have finalised the recommendation for Non-Executive Part-Time Chairman position and shall be promptly seeking requisite approvals from the Reserve Bank of India.
Following the last meeting of the N&RC, 2 newly appointed Additional Directors (Independent), Mr. T S Vijayan and Mr. Uttam Prakash Agarwal attended their first Board Meeting today. The Board strength now stands restored at 8 members with only 1 vacancy.
The N&RC has also evaluated profiles for Additional Directors especially with Information Technology Expertise, to lead the Bank’s IT Strategy Committee. The N&RC will finalise the same shortly, after requisite due diligence.
The ‘Search & Selection Committee’ (“SSC”) and the Board of Directors are on track to complete the said process within the stipulated timelines of the Reserve Bank of India.
The SSC has discussed and deliberated on the final shortlisted external and internal candidates presented by Korn Ferry post their comprehensive interviews and assessment. The SSC will now engage with the candidates over the next few days for finalization. The final recommendation will be submitted to the Reserve Bank of India by the Board of Directors post their next meeting scheduled on January 9, 2019.
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