September 25, 2018 / 2:01 PM / 3 months ago

India's Yes Bank to seek cenbank nod to extend CEO's term beyond January

Sept 25 (Reuters) - India’s Yes Bank Ltd said on Tuesday it would seek the central bank’s approval to extend CEO Rana Kapoor’s term beyond January, arguing that it needs more time to identify and groom a successor.

The Reserve Bank of India (RBI) said last week Kapoor could serve as CEO of the private-sector lender only until Jan. 31 next year, despite shareholders seeking to extend his term for three years, pending the RBI’s approval.

The company also said here it would form a committee to help search for its next chief executive officer. (Reporting by Tanvi Mehta and Krishna V Kurup in Bengaluru; Editing by Sai Sachin Ravikumar)

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