RBL Bank Forms Panel To Select Candidate For Chief’s Post

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RBL Bank Forms Panel To Select Candidate For Chief's Post

RBL Bank has formed a search panel to select a candidate for the post of its managing director and CEO

New Delhi:

RBL Bank has mandated a search panel, consisting of two board members – chairman of its nomination & remuneration committee and an external expert – to find a suitable candidate for the post of its managing director (MD) and CEO, according to a regulatory filing.

The bank’s board on December 25 elevated Rajeev Ahuja as an interim MD and CEO with immediate effect, after sending Vishwavir Ahuja on leave. Rajeev’s appointment was subject to regulatory and other approvals.

A day earlier, on December 24, the Reserve Bank of India (RBI) had appointed its chief general manager Yogesh K Dayal on the lender’s board as an additional director, a move seen as unusual in the case of private sector banks.

“The board at its meeting held today i.e. December 30, 2021, has constituted a search committee (comprising of chairman of the nomination and remuneration committee, two members of the board and one external expert) to identify and evaluate for the position of MD & CEO,” RBL Bank said in the filing.

The potential candidate can be both from within or outside the bank.

The board had decided to appoint a reputed recruitment firm for the purpose, the bank said.

“The bank will endeavour to complete the succession process at an early date,” it said.

Earlier in the day, the bank had informed about receiving the RBI’s approval to appoint Rajeev Ahuja as its interim MD and CEO for three months or until a regular candidate was onboarded.

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